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BUSINESS INFORM №8-2017The title and content ABSTRACTS AND INFORMATION ABOUT AUTHORS
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Section: Economic Theory UDC 330.111.66 Miriasov I. O. The Economic Power of Business and the Mechanisms for its Implementation (p. 8 - 13)
The article examines the essence and nature of the phenomenon of the economic power and its derivative the market or monopoly power as a conflict of interests of the institution of business and the economic system. The existing conflict of goals between the business’s profit motive and the needs of economic system is being reinforced at the level of ownership rights. Both as the basis of this conflict and the source of economic power of business appears the hidden possibility of exclusion, embedded in private property rights, which makes it possible for owners to retain part of the economic potential in their possession and to impose their terms on the economic system on that basis. The main strategies for business as to implementing the economic power include sectoral restrictions on the productive capacity of the economic system, control of trends and directions in its technological development, expansion of business into other areas of public activities, particularly in politics, ideology, and culture. It has been defined that the main organizational form for the exercise of economic power of business is the contemporary corporation. Keywords: economic power, market power, business, economy, property rights, sabotage, exclusion. Fig.: 1. Bibl.: 12. Miriasov Iurii O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economic Theory and Economic Methods of Management, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine) Email: [email protected]
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Reference to this article: Miriasov, Iurii O. (2017) “The Economic Power of Business and the Mechanisms for its Implementation.” Business Inform 8:8–13.
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