Economic security of the state in terms of financialisation

Abstract

Retaining economic security has become one of the main goals of internal and external politics of the states. Economic security consists in ensuring the undisturbed functioning of economy as well as maintaining comparative balance with economies of other states. The concept of economic security is related to the states and its elements are the values which are considered important for the state, however not necessarily under its direct control. The effort of the state’s politics in terms of economic security ought to be directed at shaping its economic potential. Economic potential is the function of available resources to the subject at a given time, such as: natural, material and human. Shaping the bases of the state’s economic security currently faces some objective difficulties connected to the globalisation process – in fact, it has limited real possibilities of fast and effective impact on the economy. Globalisation has changed the state’s institution and limited the possibility of political influence on economic and social processes. The impact of globalisation has been achieved through: quick and uncontrolled capital flow, mass and equally quick information flow, deregulation of labour market and ‘financialisation’ of social life. Financialisation has been the subject of an in-depth analysis for over three decades. Financial capitalism is a new ‘invention’ and the process of shaping this system is not finished. This system should be deliberately oriented towards the needs of the future. The point is to democratise and ‘socialise’ the financial institutions, so that these institutions will have a positive impact on the quality of the environment.