Issue 3, 2010

An attempt was made to evaluate entirely and objectively Keynes’ place in economics, his extraordinary approaches and views on: the crucial role of investments in relation to savings under the conditions of crises and stagnation in economy; the major significance of the fiscal policy as an instrument of macroeconomic regulation; the inefficient cut of government expenditure under depression; the moderate conservative nature of his social philosophy. The evolution of the main Keynesian Schools and trends is monitored – New Keynesians, Post Keynesians in two versions (the English Cambridge School and the American Monetary System), the Non-Equilibrium analysis and New Keynesians.

JEL: B20; B50

This is a summary of the main reasons and factors for emerging and intensifying of the crisis. They should be searched in the manifestation of the main driving forces and contradictions of the capitalist social system under the current conditions. The conclusion was made that the outcome from the contemporary global economic crisis is still ahead and is obviously related to a number of radical changes in the fundamental principles of the setup and functioning of economy and society.

JEL: E44; D53

Twelve advantages of the systematic structural approach are outlined as an alternative of the applied structural – indifferent approach for elaboration of development strategies. The presented approach has become a methodological instrument (algorithm) in the form of an iterative procedure. It is applicable only for the open productive systems with compensation feedback. The multiplier effect and the activity of the automatic stabilizers were realized for maintenance of the dynamically changing equilibrium (balance) between the expected results and the required resources.

JEL: C82; O21

An effective model is proposed, treating the medical centers as production systems. The key criteria for effectiveness assessment are characterized by means of result hierarchy and by means of the most frequently used indicators in their management. The capabilities of the model for CVP analysis are studied on this basis for the intended business orientation of the medical centers’ management system. The highlights are the overcoming of available organizational and management deficits by means of setting up of centers for management responsibility and well-grounded financial economic decision-making process in summarized key types of management assignments. The model is presented as a decision-making program, resulting in sustainable management of the medical centers.

JEL: I11; L32; M31

The oscillators (indicators), capturing the price changes of shares, currencies, indexes and other investment instruments in the short run are emphasized. The main aim is to reveal the capability of the indicators as an adequate instrument to forecast the changes in the market trend of traditional financial instruments. The fluctuations in the values of currencies, shares, indexes and metals are analyzed. It is proven, that the technical analysis indicators enable to predict the change of the trend direction of the financial assets and to determine the suitable moment for speculative decision making.

JEL: E37; E44; F31; G15; G17

An effort was made to classify the contemporary models of economic growth, including the production factor – human capital. The models are identified according to the applied analysis approach, as well as according to the mechanism of the effect of the human factor on the growth. The focus is placed on the econometric modeling and the empirical estimate of the influence of the human capital on the econometric growth. The main studies and results are shown both in the neoclassical and in the endogenous empirical models of growth. The key conclusions are revealed from the theoretical and empirical modeling of growth and the role of human capital, illustrated in the annexes by means of summed up tables and conclusions with selected models of growth and human capital.

JEL: E24; J24; N30; O11; O49