Technology in New Institutional Economics --Comparison of Transaction Costs in Schumpeter＇s Capitalist Development Ideology

In mainstream economics （the neoclassical economics）, it is accepted that every company that competes under the perfect competition market has the same technological equipment. So, technology is approached as a simple efficiency increase whose source is unknown. In terms of established economics view, technology is like a ＂black box＂ that cannot be predicted. As the creator of the concept of＂creative destruction＂, Joseph Schumpeter （1883-1950） caused significant changes in terms of the view of neoclassical economics about technology. On one hand, Schumpeter created a new point of view about the concept of＂innovation＂ by using key concepts, such as ＂invention＂, ＂imitation＂, and ＂business cycles＂. Schumpeter＇s ＂creative destruction＂ concept carries out the role of a new map for the new institutional economics trend which accepts ＂technology＂ as an institution. On the other hand, if one is to understand why the ideology differs between neoclassical economics and new institutional economics, ＂transaction costs＂ should be analyzed. Since, transaction costs and creative destruction have a relationship between each other; Schumpeter and Coase＇s ideas are resembling each other. While doing this, this paper will try to discuss the question of how to accept the technology as ＂external＂ instead of ＂internal＂ limit neoclassical economics. In this process, it will primarily base the dimension on the concept of＂technology＂ developed by Schumpeter. The second station is an inquiry between Schumpeter＇s and Coase＇s ideas about technology. Although new institutional economics （NIE） and neoclassical economics can be confused, they can be seperated from each other by the way they look at technology. Because, technology is accepted as an external theme by neoclassical economics, on the contrary, NIE acceptes technology as an internal fact. One of the most important reasons why technology is internal in terms of NIE can be evaluated by ＂transaction costs＂. As a result, the author will give effort to create a critical presentation in order to readdress the viewpoint of mainstream economics about ＂technology＂.

The Importance of Psychic Distance in the Internationalization Process of Polish Companies Pilot Research Results

Research objectives presented in the article are of theoretical, methodological, and empirical nature. The theoretical aim of the article is to present the different approaches to conceptualization and operationalization of psychic distance. The methodological aim of the article is to show the pilot research results of quantitative research planned in future. The paper aims at presenting the results of testifying the questionnaire, especially reactions of the respondents on the level of difficulty of questions included in it. The empirical aim of the article is to present the perceptions of managers about the importance of psychic distance stimuli （differences in culture, differences in economic and political systems, as well as differences in mentality and geographic distance） in the process of Polish companies＇ internationalization. The paper is based on the critical literature overview and on the field research conducted on the sample of 18 Polish companies with the technique of direct interview. In the first part of the article, the research design as well as methodological issues connected with psychic distance measurement is presented. The second part of the article is dedicated to the field research results on the importance of psychic distance in the process of internationalization. The conclusions of the current stage of the research will comprise the base of complete research. The conducted research enabled the author to answer the following research questions： What is the impact of psychic distance stimuli on the process of Polish companies＇ internationalization （the directions and forms of internationalization, the pace and amount of countries subject to foreign expansion of Polish companies, and the value of sales and foreign capital engagement of Polish companies abroad）？ What is the impact of psychic distance stimuli on managers＇ decisions connected with engagement on international markets （initiating business with foreign partners, leading business on international markets, and withdrawal business from international markets）？ What are the factors determining perceptions of psychic distance by managers？ What is the size of psychic distance among Poland and the foreign expansion markets of Polish companies？ The respondents stated that the managers＇ perceptions about psychic distance importance in the process of companies＇ internationalization depend on the managers＇ experience in activity on international markets, the knowledge of managers about international markets, the level of education of managers, and the level of stability and changeability of environment, in which the company operates. According to the managers, the most important factors having impact on decisions connected with internationalization are： cultural differences （especially differences in religion）, political differences （especially the level of democracy）, geographic distance （the differences in time zones）, the differences in economic systems （the level of economic development）, and the differences in mentality （different way of thinking of managers）. The factors having impact on companies＇engagement in international markets are： the level of democracy, the level of infrastructure development, different way of thinking of managers, and differences in time zones. The managers stated that the most significant differences in cultural systems are among Poland-China, Poland-Turkey, and Poland-Romania. The most significant differences in economic systems occur among Poland and the receivers of Polish export China, Ukraine, and the United States. The biggest differences in political systems are among Poland-China, Poland-Russia Belarus, and Poland-Ukraine. According to the managers, the biggest differences in mentality occur among Poland-China, Poland-Turkey, and Poland-the United States. Geographic distance is the most important factor in Polish export to the United States, China, Turkey, and Spain. There is applied a methodology stating that psychic distance （and its stimuli） should not be measured only with the use of objective constructs and statistical data, but also with the use of subjective data, such as the responses of decision makers of companies under internationalization. The value of the article is the presentation of the application of new research tool for psychic distance measurement.

On the Issue of Commercial Insurance and Commercial Insurance Market in the Slovak Republic

The article is concentrated on the Slovak commercial insurance, commercial insurance market, non-life insurance, and international risks on the Slovak Republic. Since 1 May 2004, the Slovak insurance market has been part of the uniform European Union insurance market, which includes over 5,000 insurance companies. After Slovakia’s admission to the European Union, several legislative changes have been adopted in the area of commercial insurance industry, which also influenced non-life insurance and the insurance of international risks as part of non-life risks. The most recent act in the area of commercial insurance mentioned in the paper is the Act of the National Council SR No. 39/2015 Coll. on Insurance, in which there are legislative changes in life and also non-life insurance. Basic terms are defined and commented on in the first two chapters （Lowry, Rawlings, ＆ Merkin, 2015）. The nature of international risks as part of non-life risks is described in the second chapter. International risks are classified in the third chapter; international risks are subdivided in the paper into commercial or trade risks, political and economic risks, and special types of risks.

Political and Economic Analysis of the South Silk Road： from a Transportation Safety Perspective

With a long history, the South Silk Road has been and will continue to be an important corridor of economic, political, cultural and religious exchange between Southwest China and Southeast Asia, South Asia, the Middle East, West Asia and Europe. The transportation corridor established by the South Silk Road has both important strategic significance and value for China's transportation safety, and the potential to bring huge political and economic benefits to our country. However, all kinds of challenges and threats need to be dealt with in order for it to achieve strategic value and play the role of a transportation corridor, thereby ensuring China's strategic security.

Research on the Contribution of the Chinese People’s Political Consultative Conference in Promoting the Construction of the Chengdu- Chongqing Economic Circle

The influence applied by the Chinese People’s Political Consultative Conference(CPPCC)in promoting the construction of the Chengdu-Chongqing economic circle cannot be ignored.At present,the Sichuan Committee of CPPCC and Chongqing Committee of CPPCC are actively participating in the construction of the Chengdu-Chongqing economic circle by building collaborative platforms,conducting joint consultations,and holding consultations on special issues.From three aspects,namely the unique advantages of the CPPCC,the fact that full consultation between CPPCCs in different regions is conducive to coordinating the interests of local governments of the same level,and that fact that it is also conducive to promoting inter-governmental cooperation,this article elaborates on the necessity of the contribution of the CPPCC in promoting the construction of the Chengdu-Chongqing economic circle and discusses four paths for the CPPCC’s promotion of the construction of the Chengdu-Chongqing economic circle:Strengthening the Communist Party of China’s leadership over the political consultation work of the CPPCC,using the CPPCC to consolidate the consensus of“a Sichuan-Chongqing close family,”innovating the form,content,and objects of democratic supervision,and building the information exchange mechanisms between the CPPCCs of Sichuan and Chongqing.

The Profound Changes Unseen in a Century: The Perspective of Overlapping Effect of Technological Revolution Cycle and Political & Economic Thought Cycle

The waves of technological revolution can lead to great differences in the economic and social structures of countries and have a destructive impact. The choice of political and economic thoughts can amplify or inhibit such differentiation and impact. Over the past 100 years, humankind has undergone three technological revolutions, and the mainstream political and economic thoughts have experienced a cycle from classical liberalism to various types of anti-liberalism and finally to neoliberalism. In the two liberal periods, the overlap of liberalism and a technological revolution caused sharp contradictions between the rich and the poor, leading to profound economic adjustment and great political and social turmoil worldwide. In the non-liberal period, however, the overlapping effects were relatively mild. Currently, the world is facing similar trends and risks as during 1914-1940. Whether humankind will repeat the same mistakes merits attention and vigilance. This study argues that it is necessary to oppose unilateralism, uphold multilateralism, and advance globalization and free trade under the concept of collaborative development and shared prosperity, as well as explore comprehensive and sustainable development. These are of great significance for human society to prevent risks, obtain advantages and avoid disadvantages, and maintain world peace and development.