Journal of Social Sciences

Impressum

Impressum — 2024-12-17

BANKS AND SOCIETY: WHO SERVES WHOM?

Андрей Верников — 2024-12-17

This paper adds a new dimension to the financialization research. The research question is how the contribution of banks to national economic performance compares with the share of national wealth appropriated by banks. In order to quantify it, I put forward a novel set of metrics. It embraces aspects such as: banks’ propensity to lend to non-financial enterprises, bank lending contribution to investment in fixed assets by non-financial companies, a cross-sector comparison of profitability and average wages, the share of banks in total taxes paid by corporations nationwide, etc. Each metric is composed by one or more indicators derived from publicly accessible statistical sources, thus ensuring transparency and replicability. I apply the metrics to Russian banking industry in the period of 1991–2020, and arrive at a number of counter-intuitive findings, such as banks flourishing and displaying record profitability while the rest of the economy melts down in the 1990s, or the trend reversing along with a creeping nationalization of the banks after 1998. Overall, one might argue that it is the economy (and society) at large that serves the banking industry, rather than the other way around, as it should be.

FINANCIAL COMPENSATION AS A CONDITION FOR NON-COMPETITION

Marko Kihler — 2024-12-17

The subject of this paper is the analysis of financial compensation as a condition for agreeing to a non-compete clause upon the termination of employment. The research aims to examine various issues that may arise concerning this topic, including financial compensation as a requirement for the validity of a non-compete clause with legal effects after employment ends, and the justification for omitting monetary compensation as a requirement for enforcing a non-compete clause during the term of employment. Additionally, it addresses questions related to the negotiation or non-negotiation of compensation and its amount, disproportionate compensation, and methods and timelines for payment. The analysis of these issues will proceed through a detailed examination of current legal provisions governing the subject, supported by theoretical discourse and comparative legal analysis of specific aspects pertinent to the topic. Under the Labor Law, the stipulation of compensation and its amount constitutes a mandatory condition for the agreeing of a non-compete clause with legal effect upon the termination of employment. Nevertheless, practical complexities and varying interpretations in application underscore the need for further investigation into this area.

THE IMPACT OF ARTIFICIAL INTELLIGENCE ON PERSONAL DATA PROTECTION

Nenad Cvijetićanin — 2024-12-17

Artificial intelligence (AI) technologies are rapidly advancing, relying on vast amounts of data in order to evolve and provide innovative services. AI has found applications in practically all sectors of the economy, as well as in everyday life, while the fuel driving its growth is the exploitation of various types of data. Among these, personal data holds the most significant position, and its processing must comply with the Personal Data Protection Act, as well as the General Data Protection Regulation (GDPR). With the adoption of the Artificial Intelligence Regulation, which came into effect on August 1, 2024, new regulatory frameworks have been established for the development and use of AI systems within the European Union. Although these laws are specific to different aspects of data processing, their application in the context of artificial intelligence inevitably overlaps, presenting legal challenges for both AI system providers and users. When it comes to personal data, the General Data Protection Regulation (GDPR) remains the highest legal authority in the European Union. However, to ensure compliance when deploying AI systems, it is important to apply both regulations.

RESTRICTION ON THE RIGHT TO ABORTION IN POLAND

Kristina Čamagić — 2024-12-17

Every woman has the right to make an independent decision to give birth or not to give birth. This article provides a comparative overview of legislation of individually observed states, regarding the right to life in light of the legal and ethical issues of abortion. The legal aspects of abortion were analysed through petitions on the relationship between the right to life and the right to abortion in the current practice of the European Court of Human Rights (cases in Poland and Ireland). Also, the basic settings of supporters of the pro-life and pro-choice concepts were pointed out. Poland had a restrictive abortion law. Since 1993, the law has allowed terminations of pregnancy only in case of rape or incest, severe anomalies of the fetus or endangering the life of the woman. On October 22, 2020, the Constitutional Court of Poland rendered a verdict that abortion due to damage to the fetus is unconstitutional. The article deals with the restriction of the right to abortion in Poland using a comparative analysis of the adopted legal acts with the existing international legal acts on the restriction of a woman's free will to make an independent decision to give birth or not...

ANALYZING THE EFFECT OF RULES OF LAW (RL) AND GDP ON INCOME INEQUALITY IN EUROPEAN COUNTRIES

Sk Siam Rabby — 2024-12-17

Income inequality is considered as one of the most concerning issues in the contemporary world, while regional disparities, unequal distribution of wealth, and ineffective economic policies lead this income-inequality to be higher on the daily basis. In this paper, the researchers try to find out the joint impact of Rules of Law (RL) and GDP on the level of income inequality (measured by Gini-coefficient value). The authors collected secondary data from the World Bank (WB) database for a period from 1995-2020. The authors use multiple regression model to measure the joint effect of (GDP*RL) on Gini-coefficient value. In this regression results, Life expectancy, GDP, Inflation and RL play negative role on income inequality. Conversely, population and political stability (PS) suggest a positive connection with income inequality. On the other hand, for integrated regression model, it is observed that the joint effect (GDP*RL) puts negative impact to reduce income inequality, with statistically significant value. Some European countries like Spain, Greece, Portugal, Lithuania and Latvia face great challenges on income inequality due to regional-disparities and fragile economic policies. Some countries do not have handy agricultural and industrial policies to reduce regional income-inequality. So, the economic policy makers should launch sustainable income opportunities...