Retroeconomics – Moving from Dying to Brisk Economy
Journal of Reviews on Global Economics, 2017, 6, 455-462
Posted: 11 Sep 2017
Date Written: August 31, 2017
The paper offers a new concept of the technological backwardness in many, mostly in poor countries – the retroeconomics. Such countries are getting to into the trap of technological dependency on the economically developed countries. The main threat of the preservation of the retroeconomy – its zombification is discussed as a main barrier for technological updating of economy, and in general as an obstacle for Schumpeterian creative destruction. Much importance is given to the key principle of bankruptcy procedures against zombified retro-firms. The bankruptcy legislation should ensure the timely liquidation of non-viable firms.
Keywords: Necroeconomy, Zombie-economy, Retroeconomy, Technological Backwardness, Bankruptcy
JEL Classification: G33, L26, O38
Suggested Citation: Suggested Citation