Economy - Science topic

We are looking at the role of these 'online platforms for supply and demand' in enabling circular systems/economy.

One of the important factors in the business success of fast-growing startups basing their success on technological innovations is the efficient and cost-effective implementation of specific new technologies into the manufacturing, business and other processes realized in companies, enterprises and other business entities. However, in addition to the issue of efficient and economically effective implementation of specific new technologies into the business activities of companies and enterprises, there are many other important factors for the business success of fast-growing startups rapidly building their manufacturing potential, conquering new markets, effectively occupying new market niches, achieving spectacular financial results, etc. that base their success on technological innovations. Such factors include, among others, management efficiency and flexibility in adapting the business entity to the changing conditions of the economic, market, competitive environment, etc. The availability of various, convenient forms of external financing for the startup's current and investment activities; more or less favorable towards startups and other business entities of the SME sector economic policy shaped by the government; the activities of chambers of commerce, public institutions, non-governmental organizations supporting the development of innovation and entrepreneurship of companies and enterprises at an early stage of development; opportunities to join business organizations, cooperatives, clusters or other forms of cooperation involving mutual support of various developing business entities and institutions, etc.

I am conducting research on this issue. I have included the conclusions of my research in the following article:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

How can India strike a balance between economic growth and environmental sustainability and importance of environmental sustainability for the future of our economy?

In recent years, the scale of the occurrence of serious economic and financial crises in some regions of the world and/or on a global scale has been intensifying. The scale of the appearance of certain types of economic, financial, energy, etc. crises has been increasing since the 1970s. The abolition of gold parity for the U.S. dollar, oil crises, deregulation and liberalization of the functioning of financial markets, increasing the active role of central banks in shaping monetary policies with the possibility of adding money injected into the economy through direct purchase of treasury bonds by the central bank, abolishing some of the previously introduced systemic prudential instruments used in credit risk management, increasing the scale of international operations of investment banks and investment funds making speculative transactions in foreign capital markets are just some of the sources of the increase in the scale and frequency of financial and economic crises since the 1970s. Some types of the aforementioned crises have appeared with increasing frequency and magnitude in the current 21st century. The day on September 15, 2008, when the world's fourth-largest investment bank Lehman Brothers went bankrupt was considered the beginning of the global financial crisis. This crisis was generated by, among other things, erroneously conducted overly lax monetary policies that were supposed to favor financial markets even when assets were overvalued in capital markets, overly liberalized credit policies in mortgage lending, disregarding safety standards in credit risk management and practicing moral gambling in investment banking, and so on. In 2020, there was a pandemic economic crisis, which initially developed through the Covid-19 pandemic to then be exacerbated by large-scale lockdowns imposed in some countries on economic entities operating in selected, certain industries, mainly service sectors of the economy, and the introduction of so-called national quarantines. In some countries, where, such as Poland, the development of the cheapest renewable energy sources was blocked and slowed down in 2022, when the price of fossil fuels rose strongly, a deep energy crisis occurred. Beginning in 2021, inflation began to rise rapidly in many countries, generated by pumping large amounts of printed money into the economies, whose task was to mitigate the scale of the recession generated by the lockdowns and national quarantines introduced repeatedly during the Covid-19 pandemic. In order to limit the growth of inflation, which, as in Poland, rose to double-digit levels, the central bank raised interest rates. The effect of such anti-inflationary measures was to reduce liquidity in the financial sector, increase the cost of borrowed money, make credit more expensive and reduce the scale of investment in many sectors of the economy. The result was a recession of the economy, which in many countries appeared in the 1st half of 2023. In view of the above, the misapplied measures of monetary and/or fiscal policy eased too much led to the generation of a financial and/or economic crisis. Subsequently, the anti-crisis instruments applied more than once led to the generation of another economic crisis. In addition, a climate and environmental crisis is also developing in the long term as a result of continued high greenhouse gas emissions, ignoring issues of protecting the planet's climate, biosphere and biodiversity, slowing down the development of renewable energy sources and implementing the green transformation plan for the economy on a limited scale. In view of the above, some crises like the pandemic economic crisis of 2020, among others, were generated by new factors like the Covid-19 pandemic, which could later be referred to as so-called “black swans” due to their uniqueness, atypicality and unexpected appearance by no one. On the other hand, the key root factors of some economic and financial crises include misguided state interventionism, errors in forecasting and analysis of the macroeconomic situation, misapplied pro-growth and/or anti-crisis instruments within the framework of certain economic, fiscal, budgetary, sectoral and monetary policies pursued by the government and conducted by the central bank. In view of the above, it is probably not possible to conduct economic, monetary, etc. policies without making mistakes. It is not possible to forecast all, future impact factors, determinants shaping the macroeconomic situation and potentially all events that may lead to further economic and/or financial crises in the future. However, it is possible to learn from past mistakes, and given this knowledge, a more sustainable, secure economy can be built, processes and instruments for managing credit risk and other categories of risk can be continuously improved, financial markets, including capital markets, commodity markets, securities markets can be systemically strengthened through prudent use of prudential instruments, not ignoring the principles of financial security, not practicing moral gambling in investment banking, and so on. Perhaps in the future, the next financial and economic crises that will occur will be the result of, on the one hand, still not adequately refined systemic prudential instruments, institutional financial security arrangements, credit risk management instruments, etc., and new factors and events that are difficult to forecast, which can probably later be called the next black swans. however, there are crises that we know will worsen in the future and/or will be the source of the occurrence of increasingly serious negative effects on the economy and humans. this kind of long-term crisis already in operation is the ever-developing and worsening climate crisis and, at the same time, the environmental crisis, which is associated with the process of rapid loss of biodiversity of the planet's natural ecosystems.

The key issues of the impact of the Covid-19 pandemic on the economy and financial markets are described in my article below:

IMPACT OF THE CORONAVIRUS PANDEMIC (COVID-19) ON FINANCIAL MARKETS AND THE ECONOMY

IMPACT OF THE SARS-COV-2 CORONAVIRUS PANDEMIC (COVID-19) ON GLOBALIZATION PROCESSES

The key issues of the problematic sources of Poland's exceptionally deep energy cross in 2022 are described in my co-authored article below:

POLAND'S 2022 ENERGY CRISIS AS A RESULT OF THE WAR IN UKRAINE AND YEARS OF NEGLECT TO CARRY OUT A GREEN TRANSFORMATION OF THE ENERGY SECTOR

Zarzadzanie kryzysowe w przedsiebiorstwie opisałem w artykule:

CRISES IN THE ENVIRONMENT OF BUSINESS ENTITIES AND CRISIS MANAGEMENT

I described the key issues of opportunities and threats to the development of artificial intelligence technology in my article below:

Anti-crisis state intervention and created in media images of global financial crisis

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

How green economy can lead to low-carbon economy and difference between sustainable development and green development?

Is a low carbon development market a green market model?

If yes;

Is low carbon development a win-win sustainable development model?

If yes;

Is low carbon development a green growth based market model?

If yes;

Is low carbon development a win-win economy-environment partnership model?

If yes.

Then, sustainable development a la low carbon is a green markets/green growth based model.

Therefore, if they believe this why not to say openly that to ensure environmental sustainability as per goal 7 of the Millenium Development Goals(MDGs) we have to implement sustainable development strategies(e.g. low carbon) through green market based green growth?...

If they believe that, then why to use low carbon development sometimes, sustainable development sometimes, green growth sometimes, and green markets sometimes in any document coming from the UN institutions related to this file or agreements like the 2015 Paris Agreement giving the impression that they are not closely related concepts, but the same?. Why not to minimize confusion?

the judicial influence on the legislature and examples

What effect does economic growth have on carbon emissions and balance between the environment equity and economy?

In a situation of high inflation, the central bank anti-inflationarily raises interest rates. The side effect is to cool economic processes and weaken the economy. When there is a high level of unemployment in the economy, especially Keynsian unemployment and possibly structural unemployment then the central bank anti-crisis lowers interest rates. The side effect of the situation can be an increase in inflation. And what if the economy is plunged into a multi-faceted economic crisis, in which there is high unemployment, recession of the economy and high inflation. In such a situation there is stagflation. Due to high unemployment, the central bank may apply monetary easing. However, there is also high inflation at the same time, during which the central bank tightens monetary policy. Simultaneous easing and tightening of monetary policy can mean that there is no reaction at all regarding a possible change in strategy regarding monetary policy making. Then whether the central bank, caring about the value of money, will tighten monetary policy, including raising interest rates..., or, however, helping the government in conducting anti-crisis economic policy in an attempt to revive economic processes and contribute to the decline of high unemployment anti-crisis will ease monetary policy, including lowering interest rates, among other things, then other factors and determinants will probably decide, including mainly the factors determining the economic development of the country and/or the determinants of the formation of monetary policy taking into account monetary policy factors other than those mentioned above. Among these other factors and determinants of the formation of monetary policy may be the issue of influencing the formation of the national currency against other currencies.

I have described the key issues of the central banking problem in my articles below:

Synergy of post-2008 Anti-Crisis Policy of the Mild Monetary Policy of the Federal Reserve Bank and the European Central Bank

Analysis of the effects of post-2008 anti-crisis mild monetary policy of the Federal Reserve Bank and the European Central Bank

A safe monetary central banking policy as a significant instrument for liquidity maintenance in the financial system

ACTIVATING INTERVENTIONIST MONETARY POLICY OF THE EUROPEAN CENTRAL BANK IN THE CONTEXT OF THE SECURITY OF THE EUROPEAN FINANCIAL SYSTEM

Anti-crisis state intervention and created in media images of global financial crisis

In view of the above, I address the following question to the esteemed community of scholars and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

What are the key features of a circular economy, and how can it contribute to sustainable development?

Since the release of an intelligent chatbot built on the ChatGPT language model on the Internet in November 2021, the scale of ongoing discussions on the topic of the impact of the development of artificial intelligence technology on labor markets has increased again. Each successive technological revolution has largely generated changes in labor markets. The increase in the scale of automation of manufacturing processes carried out as part of business operations was motivated by the reduction of operational personnel costs resulting from hired personnel. Automation of manufacturing processes, including processes of production and offering services, may also have reduced the level of personnel operational risk. As a result, companies, firms and, in recent years, financial institutions and public entities, through the implementation of ICT, Internet and Industry 4.0/5.0 technologies in various business processes, are improving the efficiency of business processes and increasing the economic profitability of these processes. In each of the previous four technological revolutions, in spite of changing technical solutions and emerging new technologies, analogous processes of using these new technological advances to increase the scale of automation of economic processes worked. In the era of the current fourth or fifth technological revolution, in which a special role is played by the development of generative artificial intelligence technology, applications of this technology in the development of robotics, building autonomous robots, increasing the scale of cooperation between humans and highly intelligent androids is also making a new appearance and another stage of increasing the scale of automation of manufacturing processes. However, what from the point of view of entrepreneurs thanks to the applied new technologies, the achieved automation of production processes is an increase in the efficiency of manufacturing processes, increasing the scale of economic profitability, etc., is, on the other hand, generating serious effects on labor markets, including, among other things, a reduction in employment in certain jobs. The largest scale of applied automation of economic processes and, at the same time, the largest scale of employment reduction was and is generated for those jobs that are characterized by a high level of repetition of certain activities. The activities carried out by employees that are characterized by a high level of repetitiveness were usually the first ones that could be and have been replaced by technology in a relatively simple way. this is also the case today in the era of the fifth technological revolution, in which highly advanced intelligent information systems and autonomous androids equipped with generative artificial intelligence technologies contribute to the reduction of employment in companies and enterprises where humans are replaced by such technology. A particular manifestation of these trends are the group layoffs announced starting in 2022 of employees, including IT specialists in technology companies that the aforementioned advanced technologies of Industry 4.0/5.0 are also creating, developing and implementing into their economic processes carried out in the aforementioned technology companies. Recently, there have been a lot of different kinds of predictive analysis results in the media suggesting which occupations and professions previously performed by people are most at risk of increasing unemployment in the future due to the development of business applications of generative artificial intelligence technologies. In the first months of ChatGPT's release, the Internet was dominated by a number of publications suggesting that a significant portion of jobs in many industries will be replaced by AI technology over the next few decades. Then, after another few months of the development of applications of intelligent chatbots, but also the revelation of many controversies and risks associated with it such as the development of cybercrime and disinformation on the Internet, this dominant opinion began to change in the direction of slightly less pessimistic. these less pessimistic opinions suggest that the technology of generative artificial intelligence does not necessarily deprive the majority of employees in companies and enterprises of their jobs only the majority of employees will be forced to use these new tools, applications, information systems equipped with AI technology as part of their work. Besides, the scale of the impact of new technologies on labor markets will probably not be the same across industries and sectors of the economy.

I described the key issues of opportunities and threats to the development of artificial intelligence technology in my article below:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

In recent years, more and more different political options during election campaigns before parliamentary and other political elections have added to their election slogans the issues of sustainable economic development, green transformation of the economy, increasing pro-climate and pro-environmental policy measures, including a significant increase in the development of renewable energy sources, decarbonization of industry, development of sustainable organic agriculture, sustainable energy-efficient construction, electromobility, recycling, development of sustainable tourism, development of urban agglomerations in accordance with the concept of green smart city, significant increase in the scale of reclamation of natural environments in areas degraded by industrial development, increase in the scale of protection of biodiverse natural ecosystems, natural forest ecosystems, increase in the scale of reforestation and other aspects of a sustainable green circular economy, and after winning the elections, they only slightly implement their election promises to citizens, or do not implement these promises at all. Since the scale of this phenomenon is growing so the importance of the discussions held in the issues of not fulfilling election promises on the issues of sustainable economic development, green transformation of the economy, increasing pro-climate and pro-environmental policy measures by the political options winning the elections is also increasing. When this kind of situation is repeated repeatedly in a certain country then citizens begin to consider the possibility of recognizing this kind of unreliable political activity as antisocial and perhaps also not in accordance with basic human rights and the Constitution.

I am conducting research on this issue. I have included the conclusions of my research in the following article:

I invite you to discuss this important topic for the future of the planet's biosphere and climate.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

The research I am conducting shows that the recent economic and financial crises, including the global financial crisis of 2008, the pandemic economic crisis of 2020, the strong increase in inflation in 2021-2022, the energy crisis of 2022, the recession of the economy of the first half of 2023 are the result of overdeveloped state interventionism, the manual control of monetary and fiscal policy and the deregulation of financial markets. From the research I conduct in the problem of the sources of economic, financial and other crises, it follows that strongly developed economic state interventionism is usually undertaken as an anti-crisis and/or pro-development measure aimed at reducing the scale, level and probability of occurrence of financial, economic crises, etc., but, on the other hand, often the mentioned interventionist activity of the government leads to an escalation of risk levels and generates the mentioned crises. Recent years of the Polish economy have been a series of economic crises generated by various factors but also by the government. In 2020, the government, through the introduction of lockdowns and national quarantines, generated a deep recession in the economy, then through the introduction of a large amount of printed money into the economy without coverage in the products and services produced, an increase in inflation was generated from 2021, a particularly deep energy crisis in Poland in 2022 (due to the blocking of the green transformation of the energy sector), an increase in interest rates by the NBP, a decline in investment and a downturn in the economy in 2022 and 2023, up to another recession in the economy in the 1st half of 2023. During the previous years, thanks to the applied chaotic economic policy of the government and monetary policy of the NBP in Poland, one crisis was replaced by another, and so on. And SME companies and enterprises lost a lot thanks to these crises, which were largely generated in previous years thanks to the applied, chaotically conducted, ad hoc, non-strategic, etc. economic policy of the government and monetary policy of the NBP central bank. In 2023, the scale of bankruptcies of companies and enterprises in the SME sector in Poland was the highest for many years. It is therefore necessary to continue research in the problems of the role and importance of economic state interventionism in the context of changes in the rate of economic growth and economic development, and to develop the most appropriate system solutions, economic programs, instruments for activating economic activity, activating innovation, counteracting the development of crises and implementing solutions that will result in increasing the macroeconomic stability of the economy with simultaneous sustainable economic development, including taking into account the implementation of the objectives of sustainable development, the principles of the green economy and closed-loop economy, sustainable and zero-carbon economy.

I am researching this issue. I have published the results of my research in several publications, including the following chapters in a monograph:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

An important factor determining the level of economic development in highly developed countries, which also translates into the level of income and general well-being of the economic, material, livelihood situation, etc. of citizens is the level of innovation of companies and enterprises. The issue of innovativeness of economic entities translates into labor productivity, efficiency of manufacturing processes and profitability of economic processes implemented by companies and enterprises. Innovation of economic entities can be realized in various spheres and areas of economic activity of companies, enterprises and also financial and public institutions. Business entities can create and develop technological, product, service, logistics, process, organizational, marketing and other innovations. In connection with the rapid technological progress and the ICT and Industry 4.0/5.0 technologies being developed, among others, technological innovations are particularly important considering the issues of improving the efficiency of manufacturing processes, increasing labor productivity, improving the profitability of production, etc. In recent years, the scale of implementation into business entities of such Industry 4.0/5.0 technologies as Big Data, cloud computing, Internet of Things, blockchain, digital twins, cyber security instruments, machine learning, deep learning, artificial intelligence, among others, has been growing. Among the important factors in the implementation of new technologies to companies, enterprises, financial and public institutions are favorable conditions for external investment financing of the creation or purchase, implementation and development of new technologies. External financing includes, among others, investment loans offered by commercial banks, equity financing offered by investment funds, national financial subsidies and financial subsidies under certain European Union programs, financing realized through the issuance of securities, i.e. shares and corporate bonds, loan funds, funds, etc. The innovativeness of business entities is often correlated with the level of entrepreneurship of these entities. Therefore, the government programs conducted to activate the innovation of business entities are often programs that also activate entrepreneurship. In recent years, the instruments of activation of innovation and entrepreneurship have included changes to the tax system as part of the fiscal policy pursued, as well as increasing outlays from the state finance system for the creation of funds for systemic support for the development of innovative business ventures initiated by startups and companies operating in the new technology sector. On the other hand, the soft monetary policy applied before and during the Covid-19 pandemic did not have significant effects in improving innovation and entrepreneurship. The interest rates lowered by the central banks to successive historically low levels did not result in a significant increase in the scale of innovation and entrepreneurship among economic agents. Lenient monetary policy improved liquidity in the financial sector, including the interbank market, activated lending in commercial banks' lending activities, improved the prosperity occurring in capital markets, including reducing the scale of the downturn in securities markets. Indirectly, therefore, an easing monetary policy can be a factor in the activation of innovation and entrepreneurship, if a significant portion of business loans, including investment loans, are taken by business entities to finance a venture involving the development or purchase and implementation of new technologies. In the context of the activation of innovation and entrepreneurship, it may also be important to improve and adapt to a specific socio-economic situation interventionist, anti-crisis and pro-development instruments and programs implemented under specific socio-economic policies, including, above all, budgetary, fiscal and sectoral policies, including sectoral policies to support the development of innovation.

I am conducting research on this issue. I have included the conclusions of my research in the following article:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Thank you,

Best wishes,

Dariusz Prokopowicz

Green finance, green bonds, green credit, green banking, etc. are all important issues of a green, sustainable closed-loop economy. Banks, by providing green loans, finance green, pro-environmental, pro-climate, sustainable economic projects, which are an important part of the green transformation of the economy, in which the building of a green, sustainable closed-loop economy is carried out. This process is becoming in many countries a strategic, key program segment of environmental, climate, energy, agricultural, transportation development, construction, waste management, nature resource management, forest management, etc. policies. This process includes a strategic plan to carry out a pro-environmental and pro-climate transformation of the classic growth, brown, linear economy of excess to a sustainable, green, zero-carbon zero-growth and closed-loop economy. The financial sector, including the banking and investment fund sector, is playing an increasingly important role in realizing the aforementioned green transformation of the economy. This is due to the need to allocate more and more money to green economic ventures. Besides, taking into account the rate of progressive climate change, including, above all, the accelerating process of global warming, it is necessary to significantly increase the scale of implementation of pro-environmental and pro-climate economic projects, which should result in a significant reduction in greenhouse gas emissions into the atmosphere, reducing the level of environmental pollution, reducing the scale of waste and consumption of natural resources, including the key resources for industrial development, non-renewable raw materials and clean water resources, which should be a renewable resource, but in the increasing area of land areas subject to drought is becoming a non-renewable and scarce resource. The scale of financing for green economic projects implemented in highly developed countries is insufficient in relation to needs, and in economically underdeveloped countries there is usually an even greater deficit in financing the green transformation of the economy. This issue is particularly relevant given that most of the economically underdeveloped countries are located in tropical, subtropical areas, in zones particularly vulnerable to permanent and increasingly frequent periods of severe drought and/or violent storms and downpours, rapid soil aridity and other negative effects of the ongoing process of global warming. In this regard, highly developed countries should increase the scale of financial assistance to less economically developed countries in order to support the financing of green economic projects that play a key role in the implementation of the green economic transformation plan. Because within the framework of international finance, internationally operating banks, i.e. the World Bank, the European Bank for Reconstruction and Development, the International Monetary Fund, which also finance green economic ventures to a certain extent, play an important role. Other key institutions in financial systems include central banks, which shape monetary policy, are banks of the state and banks of banks, influence the level of liquidity in the banking sector and the level of credit, investment, etc. risks taken by financial institutions and non-financial sector operators. Accordingly, central banks can also play an important role in the context of green finance, green financing, influencing commercial banks' lending activities of granting green loans and issuing green corporate bonds. In view of the above, central banks acting as a bank of banks vis-à-vis commercial banks can therefore motivate commercial banks to conduct green banking, including granting green loans and issuing green bonds. In the framework of what could be called green central banking, central banks could provide loans on preferential terms to commercial banks for the development of green lending, with the help of which pro-environmental, pro-climate and/or pro-environmental economic ventures would be financed, e.g. by financing the development of energy based on renewable energy sources, development of sustainable organic agriculture, improvement of waste separation and recycling technologies, development of electromobility, sustainable construction, development of green smart cities, construction of rainwater harvesting facilities, seawater desalination, reforestation of industrially degraded areas, etc. In the context of this issue, there is the question of possible opportunities and conditions for the creation of a strategy involving central banks conducting what could be described as a green monetary policy.

I am conducting research on this issue. I have included the conclusions of my research in the following article:

I invite you to discuss this important topic for the future of the planet's biosphere and climate.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

According to the prevailing macroeconomic forecasts, the Polish economy in 2024 and 2025 should be in a trend of improving economic growth rates. In February and March 2024, inflation fell to a low level close to the inflation target. In addition, in the second half of 2023, there was a clear improvement in the residential real estate sector, due to the introduction of a government program to activate the purchase of real estate by citizens on credit, i.e. the “2% Safe Credit” program.” A year ago, the macroeconomic situation in Poland indexically looked much weaker than now. The level of economic growth was lower and was below zero, i.e. there was a recession. This was the second recession since the Covid-19 pandemic, i.e. since 2020, and the first after the end of the pandemic. The recession of the first half of 2023 was due to a decline in the economic activity of companies and businesses, as a result of the various crises that occurred during and after the Covid-19 pandemic. These downturn factors include the pandemic economic crisis with the deep recession of the economy, which occurred mainly during the first wave of the pandemic, i.e. in the spring of 2020. In addition to this, the rapid increase in inflation, which in Poland began from the 2nd quarter of 2021. This growth continued until February 2023, when consumer inflation, according to the Central Statistical Office, reached 18.4 percent. In 2022, Poland experienced a deep energy crisis generated by the increase in fossil fuel prices. The energy crisis was deep in Poland due to the still high share of up to three-fourths of conventional energy sources, i.e. based on burning fossils, mainly coal and lignite, against the background of the overall mix of energy sources. The increase in costs associated with high fossil fuel prices, high energy prices, and more expensive bank loans generated a downturn in the economy in the 2022-2023 period. The increase in interest rates on bank loans, including business loans, investment loans offered to companies and businesses by commercial banks was a derivative of the anti-inflationary raising of interest rates by the central bank, i.e. the National Bank of Poland, which lasted from October 2021 to September 2022. In addition, the changes in the fiscal system carried out in 2022 under the government's Polish Deal program also caused many organizational and financial problems in a significant part of the functioning business entities. In addition, all of the aforementioned crises and the changes applied by the central bank in terms of the monetary policy pursued also negatively affected the PLN exchange rate against other currencies and generated a high amplitude of changes in the PLN exchange rate, which also negatively affected many business entities operating in non-financial sectors of the economy. The increased scale of exchange rate volatility primarily negatively affected enterprises that exported a significant part or most of their production to countries with a different currency. The amount and share in terms of production of products against the economy for such enterprises has increased significantly since 2004, when Poland became a member of the European Union. An important issue confirming the not-so-good economic and financial situation of companies and enterprises in Poland recently is the fact that in 2023 the historically largest scale of declared bankruptcies of business entities and the termination of their activities occurred. All of the above-mentioned issues have negatively affected the operation of many companies and enterprises operating in Poland over the past few years. Currently, in 2024, positive in its content forecasts of macroeconomic developments in the domestic economy determined for the next few quarters prevail. In addition to the currently low inflation and stabilized economic situation, there has recently emerged an important pro-development factor, which is additional subsidies from the European Union. Well, at the end of 2023, previously granted EU subsidies and low-interest loans were unblocked for Poland under a financial program referred to as the National Recovery Plan. Because the funding Poland will receive in the 2024-2025 period from the National Reconstruction Plan program and also funding under the European Union's Cohesion Programs will be historically record high. Consequently, many new investment projects will probably be carried out using this money. In view of the above, the macroeconomic situation is highly complex and presents an ambiguous picture when it comes to diagnosing the sources of the decline in investment.

The key issues of the impact of the Covid-19 pandemic on the economy and financial markets are described in my article below:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

Constant touchstones following the protocol introduces a new dimension of bioethics to the bioinformatics about big ideas, modes of inquiry, intellectual traits and habits of mins but it is relativity of shared economy that transcends attention span to specific evidence of integration.

How should the financial subsidies of the European Union granted to Poland under the National Reconstruction Plan be distributed so that they primarily contribute to the effective development of the national economy?

Increasing the efficiency of the use of financial subsidies from the state's public finance system, so that to a large extent the said subsidies are allocated to real pro-development investment projects, effectively activate economic processes, entrepreneurship and innovation of business entities, and thus the country's economic development can be significantly accelerated in the coming years. Unfortunately, there is little time, as only 2 years to effectively use this money which was a result of the failure to meet the so-called milestones set by the European Union by the previous government in Poland, which functioned from 2015-2023. The key issue is that most of these funds should realistically feed new investment projects, not be “eaten up”, consumed in current purposes that do not have the character of investment, not be wasted, not be subject to financial embezzlement, etc.., because then the impact of this money on the economy, on economic growth in the next few years, the impact on improving economic development will be much smaller. In view of the fact that the funds to be used, i.e. PLN 600 billion (total low-rate loans and grants), will be relatively large and the time to use them will be short, so it is necessary to improve the existing national procedures in the matter of application, substantive analysis of submitted applications for grants, granting of funds, ongoing monitoring of the implementation of investments and their settlement. One of the effects of unblocking access to these funds granted under the National Reconstruction Plan is the process of appreciation of the PLN against the euro, which is already taking place since the autumn of 2023, and reduces the scale of “import” of inflation into Poland thanks to such large euro subsidies to come to the country where I operate. Well, thanks to these funds, economic growth in Poland as early as 2024 can be higher than the projected about 3% if these funds are effectively, well invested, etc. This scenario will come true, assuming that other international, global macroeconomic variables do not deteriorate, i.e. current risks do not increase significantly, and there are various risks outside Poland that affect the Polish economy. A kind of symptom of this issue was the strong increases in shares on the Warsaw Stock Exchange on Monday 16.10.2023, i.e. just after the elections on 15.10.2023 when one of the internationally recognized rating agencies suggested that thanks to the outcome of these parliamentary elections, the probability of unlocking European Union subsidies for Poland from the National Reconstruction Plan would increase significantly. Besides, it is important to point out the legitimacy of continuing key investment goals such as accelerating the process of green energy transformation. An important determinant of increasing the scale of investment processes carried out as part of the green transformation of the power industry is the issue of reducing the risk of a future energy crisis like the one that occurred in Poland in 2022, in order to meet the guidelines of the European Union under the Green Deal, which should result in reducing the scale of future energy price increases in Poland, etc. The green transformation of the energy industry is a key rarity of the green transformation of the economy towards building a green closed loop economy. Besides, subsidies from the European Union's financial programs, i.e., primarily from the National Reconstruction Plan, should not only be used for investment projects carried out mainly by large, few energy companies, but should be used to a large extent to finance activities carried out by prosumer citizens to increase energy security for the household and reduce the costs incurred in subsequent years for energy purchases, i.e. prosumer ventures, e.g., installing photovoltaic panels on the roofs of their homes as part of the expansion of such programs as “My Current,” for example, so that prosumers' own participation in these investment processes is small, as it is currently still too large and is a financial barrier for many households. In addition to the economic processes related to the green transformation of the economy, including mainly the green transformation of the energy sector, the financial resources from the National Recovery Plan are to finance investment projects carried out as part of the continuation of the processes of digitization of the economy, including enterprises, implementation into companies and institutions of new ICT and Industry 4.0/5.0 technologies, including, for example, Big Data Analytics, artificial intelligence, cloud computing, etc. In addition, the aforementioned financial subsidies are to be used to support the implementation of investment projects in the field of investment, through which the state of road and rail transportation infrastructure is to be improved. In addition to this, support from the National Reconstruction Plan funds is also to be given to the health sector, although the importance of this support has significantly decreased since there is no longer a Covid-19 pandemic, and the European Union's program of these grants was developed in 2020 during the pandemic and was originally intended to largely support the anti-pandemic activities carried out within the medical sector.

I have also described many of these aforementioned aspects in my publications posted on my profile of this Research Gate portal.

The key issues of the problematic sources of Poland's exceptionally deep energy cross in 2022 are described in my co-authored article below:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

The structure of the energy mix of various energy sources is determined by a number of factors. On the one hand, these are historical factors, technological, geographic, natural, economic conditions, etc. On the other hand, these are the determinants arising from a certain adopted energy policy, including taking into account the implementation of the goals of sustainable development, the principles of green transformation of the energy sector, social climate and environmental responsibility, and taking care of prospective future energy security. Taking into account the aforementioned determinants, there is a non-uniform structure of the energy mix of various energy sources in different countries. Taking into account the mentioned energy policy issues, the structure of the energy mix of various energy sources should be constructed in such a way that the national energy system, on the one hand, is characterized by independence from various factors and a high level of energy security, and, on the other hand, should also be in line with the green transformation of the economy and the implementation of sustainable development goals. In Poland in recent years, in terms of renewable energy sources, photovoltaic was the most significant in the structure of the share of installed capacity. Wind power came second, hydroelectric power was third, followed by biomass and biogas power plants. Unfortunately, still more than 70 percent of electricity and even more thermal energy is generated in Poland in conventional thermal power plants powered by coal or lignite. Successively from year to year, as part of the progressive green transformation of the energy industry, the share of various types of renewable energy sources in the energy mix of energy sources is steadily increasing.

I described the key issues of the green transformation of the economy, including the green transformation of the energy sector, in my article below:

I invite you to discuss this important topic for the future of the planet's biosphere and climate.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

When there is a strong decline in the level of activity of economic entities, the rate of economic growth slows down, there is a risk of the emergence of a recession of the economy, a serious financial and/or economic crisis begins then the governments of individual countries, fearing a strong increase in unemployment, increase the scale of anti-crisis state interventionism, launch programs to activate the economic activity of companies and enterprises under mild fiscal policy and active fiscal policy. With the growing risk of deepening the scale of the financial and/or economic crisis

central banks lower interest rates with a view to lowering the cost of money lent by commercial banks in the form of bank loans and thus increasing liquidity in the banking sector and indirectly in the economy as a whole. When the World Health Organization declared a pandemic state of Covid-19 on March 11, 2020, there was panic in the capital markets involving panic selling of assets. The high level of uncertainty and investment risk prevailing in the capital markets, including those of the stock exchanges, caused companies and businesses to put their investment plans on hold and some had already begun to see declines in the level of sales of their product and service offerings. Subsequently, citizens' fears for their jobs quickly emerged and politicians, fearing the loss of public support, quickly began to launch processes that would result in the introduction of certain anti-crisis instruments. The sharp stock market crashes on the stock exchanges, which lasted for several days, as well as declines in industrial commodity prices, were halted when central banks strongly reduced the level of interest rates. During the Covid-19 pandemic, anti-crisis state interventionism was applied on a large scale to limit the scale of the development of the economic crisis. These anti-crisis interventionist measures were intended to prevent the economy from deepening into a recession in 2020 and the occurrence of stagflation in subsequent years. Stagflation is a particularly unfavorable type of deep economic crisis characterized by high inflation, sometimes hyperinflation and high unemployment. For capital markets, including the stock market, it is a particularly unfavorable type of economic crisis. Triggered by the Covid-19 pandemic and the lockdowns introduced during the pandemic, the global economic crisis starting in the spring of 2020 could, in many countries, as it did during the 2008 global financial crisis, turn into another financial crisis, a debt crisis of the state's public finance system with the simultaneous occurrence of a recession of the national economy. If the anti-crisis, interventionist measures introduced at the time, the aid programs launched for businesses, public institutions, for citizens within the framework of the use of available instruments of fiscal policy and monetary policy did not work, a situation of a significant deepening of the then economic crisis could occur. Then this deepened economic crisis could have been more severe than the one that occurred in 2008 and could have been characterized by stagflation. In such a situation, also the interventionist actions of central banks, e.g. by continuing to lower interest rates, could no longer work effectively because there was already an excess of money in the markets, citizens and companies on bank deposits in commercial banks held record high amounts of money and inflation had already begun to rise in many countries as of 2021. After the anti-crisis reduction of interest rates by central banks, which in many countries took place between March and May 2020, the stock markets quickly returned to prosperity. When this kind of situation lasts for a prolonged period over many months, quarters or even sometimes several years then stock prices can rise to levels described as highly overvalued which can then result in a stock market crash at a time when most market participants do not expect it. In the meantime, stock prices may rise on a "buy the rumors, sell the facts" basis. It is not out of the question that this principle worked in 2023-2024, as most investors active in the stock markets expected the start of the announced interest rate cuts by central banks. Expectations were reasonable since inflation had fallen to levels close to inflation targets and central banks had not lowered interest rates, which had previously been anti-inflationarily raised after the Covid-19 pandemic.

I described the key issues of the central banking problem in my articles below:

Synergy of post-2008 Anti-Crisis Policy of the Mild Monetary Policy of the Federal Reserve Bank and the European Central Bank

Analysis of the effects of post-2008 anti-crisis mild monetary policy of the Federal Reserve Bank and the European Central Bank

A safe monetary central banking policy as a significant instrument for liquidity maintenance in the financial system

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

A key function of central banks in the context of their monetary policy is to take care of the value of money. In the context of increasingly frequent financial and economic crises, central banking increasingly applies other additional priorities related to the functioning of the country's economy when conducting monetary policy. Over the past few decades, mainly since the period of the oil crises of the 1970s, there has been a successive increase in the importance of the monetary policy of central banks carried out in more or less formal correlation with the socio-economic, budgetary, fiscal and social policies of the government taking into account the issues of changes in the rate of economic growth of the national economy, changes in the level of activity of the economic processes of companies and enterprises, changes in the situation in the labor markets and especially the issue of changes in the level of unemployment.

Just before the outbreak of the Great Depression of the 1930s and just before the outbreak of the global financial crisis of 2008, central banks first pursued a mild monetary policy for many years, so that when serious symptoms of an imminent financial and economic crisis appeared, resulting in a potentially high increase in unemployment and the occurrence of a recession in the economy, interest rates were raised, which then caused difficulties in servicing loans in many highly indebted companies and enterprises. Consequently, measures that were supposed to act as anti-crisis measures contributed to the accelerated development of the financial and economic crisis.

Over the past few decades of time, the importance of central banking has increased as not only the institution that shapes monetary policy, on which depends not only the value of money, but also the liquidity situation in the banking sector, the level of commercial bank lending, the scale of credit risk accepted by commercial banks in their bank lending activities and, indirectly, the economic and financial situation of many companies and enterprises that are clients of commercial banks. Therefore, also the changes made by central bank governors usually every few quarters or years in monetary policy strategies correlate to a large extent with what happens to the issue of inflation, if it is demand inflation and indirectly also the issue of monetary policy conducted can be correlated to a serious degree with important factors describing the macroeconomic situation of the economy.

The research shows that any type of monetary policy, i.e. conducted according to an anti-crisis and/or pro-development model of lax or tightened monetary policy conducted by central banking, may involve the risk of either succeeding in generating positive, pro-development effects supporting economic development or making mistakes and generating financial losses in many economic entities and leading to a financial and economic crisis. The idea is that lessons should be learned from the mistakes made at central banks in terms of the monetary policies that are carried out, that monetary policies should be realistically improved based on the conclusions of research, that financial systems should be increasingly secure, that societies should not lose public confidence in institutionalized financial systems and, thanks to this, that another major financial and economic crisis should not occur in the future.

This issue is particularly important because of the security of the entire state financial system, since the central bank, in addition to being a bank of banks and a bank of issue, is first and foremost a bank of the state that creates monetary policy and participates in the creation of money. Since the security of the financial system is largely based on public confidence in the system, including the banking system, so every bank, including the central bank, should carry out its goals and tasks with full integrity, should not engage in international financial operations with a high risk of speculative investment, and should conduct monetary policy in such a way that it does not make serious mistakes in its conduct that result in the occurrence of subsequent financial and economic crises.

I have described the key issues of the central banking problem in my articles below:

Synergy of post-2008 Anti-Crisis Policy of the Mild Monetary Policy of the Federal Reserve Bank and the European Central Bank

Analysis of the effects of post-2008 anti-crisis mild monetary policy of the Federal Reserve Bank and the European Central Bank

A safe monetary central banking policy as a significant instrument for liquidity maintenance in the financial system

ACTIVATING INTERVENTIONIST MONETARY POLICY OF THE EUROPEAN CENTRAL BANK IN THE CONTEXT OF THE SECURITY OF THE EUROPEAN FINANCIAL SYSTEM

Anti-crisis state intervention and created in media images of global financial crisis

In view of the above, I address the following question to the esteemed community of scholars and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

Based on my research, I conclude that the green business transformation of business entities, including companies, enterprises, financial and public institutions, should be a key component of corporate social responsibility, namely environmental social responsibility and climate social responsibility. Accordingly, environmental social responsibility and climate social responsibility should be recognized as key factors in corporate reputation and non-financial ESG reporting. An important factor for effectively carrying out the pro-environmental and pro-climate transformation of the classic growth brown linear economy of excess to a sustainable green zero-carbon growth zero-carbon economy and a closed loop economy is to increase the pro-environmental and pro-climate awareness of citizens. Awareness of the urgent and effective implementation of the green transformation of the economy, including the implementation of the plan to reduce greenhouse gas emissions until the creation of a zero-carbon economy, to slow down the process of progressive global warming to save the climate, biosphere and biodiversity of the planet's natural ecosystems is a key determinant of ensuring the conditions of existence on the planet for future generations of people. Accordingly, the issue of pro-environmental and pro-climate awareness of citizens should be correlated with the environmental social responsibility and climate social responsibility of business, i.e. economic entities, including companies, enterprises, financial institutions and other organizations. Meanwhile, environmental social responsibility and climate social responsibility should be an important factor in the green reputation of companies, businesses, financial and public institutions, and also an important element of non-financial ESG reporting.

Key aspects of the implementation of the goals of sustainable development and the necessary acceleration of the processes of green transformation of the economy to decarbonize the economy, slow down the process of global warming, protect the climate, biosphere and biodiversity of the planet's natural ecosystems I described in the article:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

For example, in the country where I operate during the winter season, during a period where for many previous decades of time there was usually snow and temperatures were minus temperatures reaching as high as 20-30 degrees Frost is during the current "winter" in February 2024 there are positive temperatures all over the country, even positive double digits. Hoteliers, owners of ski slopes in the Tatra mountains are reporting much lower interest in their services. Fruit growers fear the return of morning frosts, which would cause the buds of flowers, which appear exceptionally early on shrubs and fruit trees, to freeze. Beekeepers fear for their bees, which have begun to leave their hives unusually early. But these are not the only effects of weather anomalies, climate disasters, climate change, the process of global warming, which has been occurring with increasing frequency in recent years. The negative effects of the increasingly rapid process of global warming on the environment, on agriculture, on the economy as a whole, on human existence in cities and in the countryside are constantly increasing, and the scale of the negative impact of climate change is constantly growing. In the country in which I operate in the summer season in recent years there have been record high temperatures, increasingly persistent heat, longer and longer periods of drought, little rainfall and increasingly frequent forest fires. In some regions of the country, water supplies are already beginning to run out during periods when citizens are watering their gardens and flowerbeds, washing cars, filling swimming pools, etc. At that time, local authorities are recommending restrictions on the use of tap water and imposing periodic bans on the use of clean water from the municipal water supply for watering lawns, washing cars and filling swimming pools. On the other hand, financial incentives, i.e. subsidies for the creation of water reservoirs for rainwater collection, rainwater catchment systems and irrigation of gardens, lawns, green areas, etc. with the help of rainwater thus collected, are being introduced as part of the increase in the scale of economical water consumption. The scale of the negative effects of the ongoing process of global warming is increasing every year. In many regions of the world, due to the accelerating process of global warming, the productivity of agricultural crops in agriculture is declining, the number of pollinating insects is declining, green areas in cities are drying up, living conditions in urban areas are deteriorating, the demand for electricity is increasing, which is caused, among other things, by the increase in the scale of use of cooling equipment during summer heat waves, the level of biodiversity in areas of natural natural ecosystems is decreasing, etc. Therefore, it is necessary to accelerate the processes of green transformation of the economy, including green transformation of such economic sectors as energy, agriculture, transportation, construction, heavy industry, etc.

I am conducting research on this issue. I study in a multifaceted and interdisciplinary way the issue of factors, determinants of climate change, the increasingly rapid process of global warming, and the effects of these processes on the environment, on civilization, agriculture, the economy, etc. On the other hand, I analyze the possibilities of smoothly carrying out a pro-environmental and pro-climate transformation of the classic growth, brown, linear economy of excess into a sustainable, green, zero-carbon zero-growth and closed-cycle economy. By building a green, sustainable closed loop economy, it will be possible to slow down the still accelerating global warming process and reduce the negative effects of these climate change processes. Will it be possible to reverse these processes? Unfortunately, this is unlikely with the green transformation of the economy progressing as slowly as it is now, and the still low level of awareness of many citizens on this topic, ignoring the high level of relevance of this issue in the business and political world. I have included the conclusions of my research in the following article:

IMPLEMENTATION OF THE PRINCIPLES OF SUSTAINABLE ECONOMY DEVELOPMENT AS A KEY ELEMENT OF THE PRO-ECOLOGICAL TRANSFORMATION OF THE ECONOMY TOWARDS GREEN ECONOMY AND CIRCULAR ECONOMY

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

Among the important issues of the efficiency of the tax system's operation is the specific structure of the introduced various direct taxes, including mainly income and property taxes, and indirect taxes, including mainly VAT, excise taxes and tributes related to the import of certain products or services, customs duties and so on. In addition to this, the effectiveness of the tax system, which is determined by the level of tax revenues that feed the system of state public finances, i.e. revenues to the central state budget and revenues to the budgets of local government units, municipalities is the issue of the so-called tightness of the fiscal system, the effectiveness of the institution of the tax office and customs and fiscal control, the efficiency of the procedures for serving taxpayers' citizens by the institution of the tax office, the level of developed remote service to citizens via the Internet, the scale of digitization of the institutions of the tax system, etc. These issues determine the level of the emerging shadow economy, in which some citizens, entrepreneurs do not register their business activities in order to thus avoid the tax system, not to pay taxes. In many countries, receipts to the central state budget and to the local budgets of local government units account for most of the total financial receipts that feed the state's public finance system with money, which is then used by the government and local government authorities to provide citizens with public services and public goods. A larger scale of tax revenues means more money at the state's disposal and higher-quality provision of public services and/or more investment, which also produces durable economic goods within the framework of public goods. Accordingly, the Ministry of Finance should strive to improve procedures, legal norms, organizational systems, etc., so that the institutions of the tax system operate as efficiently as possible and so that as much tax money as possible enters the state's public finance system. However, this does not mean the need for frequent changes in the normatives of the law, frequent changes in the tax system, changes in the structure of taxes, changes in tax scales, their level determined for particular types of taxes imposed on certain types of economic entities. Citizens and entrepreneurs are unlikely to prefer frequently changing regulations of the tax system, tax law, tax accounting methods, etc. Frequent changes are burdensome for citizens and business entities. On the other hand, the technological advances taking place, the emerging new ICT and Industry 4.0/5.0 technologies are being implemented into information systems for remote data transfer and tax settlements carried out online. Such processes of digitization and Internetization of fiscal system institutions have been developing for many years. During the Covid-19 pandemic, the aforementioned digitization and internetization processes accelerated in some countries. At times, the digitization and Internetization of tax system institutions and information systems that enable remote transfer of tax data and online accounting also make it possible to increase the sealing of the tax system and reduce the level of the shadow economy. On the other hand, the increase in the scale of digitization and Internetization of the tax system, i.e. the increase in the scale of remote transfer of tax data and online tax settlement, also increases the risk of cyber-attacks on online tax settlement platforms. For several years now, cybercriminals have been constantly creating new cybercrime techniques, new types of viruses, including, for example, ransomware viruses spread in fake e-mails imitating the e-mail correspondence of tax authority institutions, new phishing techniques, etc. with the aim of stealing money or extorting ransom payments from a company successfully attacked by cybercriminals. In this regard, it is also necessary to increase spending on the permanent improvement of the information systems of tax system institutions. In terms of the generic structure of taxes, the tax scales applied, the level of tax assessments established against certain types of economic entities, it is the state's over-maximization of these issues that can lead to an increase in the shadow economy. According to the Philips curve, once a certain high level of established tax levels is exceeded, tax revenues, rather than increasing, will decrease due to an increase in the scale of the shadow economy. In such a situation, the tax system does not work efficiently. In addition, tax receipts feeding into the state's public finance system from year to year can change significantly regardless of the tax system itself, i.e. even when nothing is changed in this system. The reason for such changes in the level of tax revenues to the state budget is the issue of cyclicality of economic processes on a multi-year scale, the occurrence of business cycles, within which there can be significant differences in the rate of economic growth, the level of activity of economic processes, the economic activity of companies and enterprises, the level of entrepreneurship, and so on. On a multi-year scale, cyclical changes in the rate of economic growth are usually strongly correlated with changes in the level of entrepreneurship, production, offering of services, income, investment, spending, consumption, savings and also the situation in labor markets, i.e. the level of employment and unemployment. As some sectors of the economy are particularly cyclical, i.e. changes in the level of economic activity of companies and enterprises of a particular sector or branch of the economy are strongly correlated with changes in the rate of economic growth of the economy as a whole, so how the generic structure of taxes with which the aforementioned economic entities are burdened is designed is also important in determining cyclical changes in the level of tax revenues to the state's public finance system derived from changes in the rate of economic growth, changes in the level of Gross Domestic Product, multi-year business cycles. However, in the situation of taking into account all of the above-mentioned factors when designing certain new taxes and/or improving the tax system, i.e. in the situation of striving to create a financially efficient fiscal system, considerations also arise on the issue of social justice relating to the tax system. These considerations often include the search for possible correlations between the efficiency of the tax system and something that could be described as a socially just tax system. In my opinion, the question of the efficiency of the tax system can correlate to a significant degree with the question of a socially just tax system. However, this correlation need not always occur and not always in the same scale and dependence. The question of the scale and dependence of this correlation is determined by what is considered social justice in relation to the tax system, how a socially just tax system can be defined, and whether such social issues are taken into account at all when reconstructing the tax system.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

I have researched and described specific economic and social aspects relating to the tax system in the following article on the plan to introduce a banking tax in Poland:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

What is the transition from industrial economy to green economy and challenges when transitioning to a green economy?

In 2022, the scale of sales of heat pumps in Poland increased by approximately 100 per cent compared to the previous year. This was due to the energy crisis generated by the slowing down of the development of renewable and emission-free energy sources by the PIS party currently in power over the past eight years and the promotion of energy development based mainly on burning combustible fuels, mainly coal and lignite. As a result, three quarters of Poland's electricity generation and even more of its heat generation is still based on burning coal. As a result, when the price of fossil fuels rose sharply between 2021 and 2022, the cost of living for many citizens increased by several tens of percent. The solution to the problem of rising heating and energy costs was to install heat pumps powered by electricity from photovoltaic panels installed on the roof or next to the house, or other renewable energy sources. However, these other alternative renewable and emission-free energy sources are few and far between due to energy policy. In order to increase the energy savings of their homes, many citizens would like to insulate their homes by renovating and adding insulation to the facades of their buildings. It is estimated that over 4 million residential homes in Poland lack thermal insulation. However, this is unfortunately not possible due to the overly limited financial programmes of non-refundable subsidies with which such investment projects could be financed. Many citizens, despite the fact that they would like, for example, to power heat pumps with electricity from a wind turbine, a windmill erected close to their home, have not had this opportunity because in 2016 the PIS government blocked the development of wind energy in Poland by passing the so-called 10h Law. Similarly, in April 2022, a change in the regulation of billing for photovoltaic panels installed on the roof or next to a residential house by citizens prosumers of their own electricity made these installations unprofitable and the number of new installations of this kind fell by three quarters. When the development of wind power in Poland was blocked in 2016, coal imports increased strongly. In addition, nuclear power and other fully renewable energy sources were not developed. The result is a low level of independence and energy security for the country. Besides, the result is one of the lowest air quality and high levels of smog in cities during the heating season in international rankings. Unfortunately, despite the existence of new renewable energy technologies whose application on a larger scale could solve the above problems, the scale of development of governmental and self-governmental programmes of financial subsidies and support from the European Union is still too small. And it is too small because Poland has not met the so-called milestones set by the European Commission and is the only country in the EU which has not received financial subsidies under the National Reconstruction Programme. One of these milestones is the issue of unblocking the onshore wind energy development previously blocked in 2016. Currently, i.e. in Q1. 2023, a law is being processed to unblock this issue. However, the still ruling PIS party, as part of its support for the development of coal-fired power generation and its support for government-controlled, monopolistically operating energy and fuel companies of the state treasury, included in the aforementioned law provisions that in practice limit the development of onshore wind energy (a minimum distance of 700 m between a windmill and the nearest buildings) so that only a few per cent of the country's area can be covered by these windmills. This means that a small proportion of willing citizens will benefit from this, and it will benefit mainly and also to a limited extent the government-controlled, monopolistically operating energy state companies. Thus the circle of this travesty of energy, climate and environmental pseudo-politics is closing. In view of the above, technological solutions that could solve the above problems are already available, but the national pseudo-politics of energy, climate and environment causes that the development of renewable and emission-free sources of energy, improvement of energy security, reduction of the scale of the energy crisis, improvement of air quality in cities is still being slowed down, the goals of sustainable development are being ignored by the PIS government, and the green transformation of the economy, achieving zero-emission of the economy, building a sustainable economy in accordance with counteracting the progressive process of global warming is progressing much slower than it could be.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this subject?

Please respond,

Please answer with reasons,

I invite you all to discuss,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

For years, the media have been conducting sterile discussions based on the low level of economic knowledge of citizens. Discussions in the media by economic commentators tend to lack objectivity, as they are determined by subjective reference to studies conducted by certain institutions, including the NBP, which were also not conducted and commented on under conditions of full political impartiality. The government, without the influence of various pressure groups, prefers the stasus quo to which it is accustomed, to which it is condemned for the next 4 years after winning the elections, and maximizes the pros against the cons of a given state of affairs, that is, the situation of Poland having a national currency. In Poland, the main social group that would definitely benefit from the introduction of the euro in Poland are entrepreneurs, mainly importers and exporters who settle their business activities in euros and therefore bear the costs of hedging against currency risks. However, even this social group is apparently too weak to unite in organizations supporting the plan to introduce the euro. Regarding the issue of the plan to introduce the euro in Poland, there is no such plan in principle. There were first attempts to develop this plan as early as the late 1990s, but as it turned out, the issue of the dominant narrative in the media was politically determined in particular years, or rather, during the periods of the various ruling political parties. The political narrative of the PIS party is related to the policy of printing national currency, the printing of so-called anti-crisis additional domestic money. The second PIS argument for not introducing the euro in Poland is the loss of national monetary policy by the NBP, i.e. the central bank, which theoretically and according to current legal norms (the Polish Constitution and the NBP Act) is an independent bank from the government's fiscal policy, which is not in line with the facts given the political ties of NBP President Prof. Glapinski with the PIS party, which ruled for 8 years from 2016 to 2023. Another third key argument, partly objective and economic, suggests that Poland could adopt the euro in the distant future, when the economic potential of the Polish economy, the production capacity of industrial sectors, labor productivity determined, among other things, by the equipment of manufacturing processes with new technologies and innovations, the balance sheet totals of banks' financial capital, the level of real income of citizens, etc., will almost equal the analogous levels in the largest economy in Europe and at the same time the main trading partner with respect to Poland, i.e. the German economy. In addition to this, the arguments used to question the legitimacy of the introduction of the euro in Poland in recent years often include concerns about the increase in prices of many products and services, which would occur in the first years after Poland's entry into the eurozone. The basis for this argument is to point to such a phenomenon, which has occurred on a certain scale in countries where the euro currency was recently introduced. In a situation where such a phenomenon also occurred in Poland, the most affected would be citizens with the lowest and lower levels of income, citizens who spend a significant part of their income on the purchase of basic products, including food products. From the arguments presented, further arguments follow. Well, if in the situation of a much less developed Polish economy in relation to the largest economy in Europe, which is the German economy, the plan to introduce the euro currency in Poland would be implemented, the less developed Polish economy could continue to develop less well and would not necessarily catch up quickly with the economic development of Germany. On the other hand, there are supporters of the completely opposite theory claiming that if Poland adopted the euro now it would develop faster and thus catch up with Germany's economic development faster. But there are also supporters of the theory that these issues are not necessarily correlated, because it is usually the case that less developed countries, when they develop and are developing, growing countries then the magnitude of the rate of economic growth in such smaller and less developed economies is greater in comparison with the corresponding figures denoting the rate of economic growth expressed in percent, expressed in the indicator macroeconomic determinant Gross Domestic Product. So this issue is almost entirely "malleable," subject to politicized, subjective evaluation. However, if the policy had changed on this issue, a plan for the introduction of the euro had been developed, all the formal requirements of the European Union had been met in terms of the monetary policy and fiscal policy applied in the country and their effects in the form of similar to EU standards issues of the development of the exchange rate of the PKN against the euro and in terms of the level of debt of the system of public finances of the state, and after a few or more years in Poland the euro currency would have been introduced, then in many media commentaries consideration of the pluses of the situation would have begun to prevail instead of consideration of the minuses as before. Then it could turn out that loans would be cheaper, because ECB interest rates are lower than NBP interest rates. However, the fact that the ECB's interest rates are lower than those of the NBP is related to the issue of offering Treasury bonds to foreign investors, who need to be offered a correspondingly higher yield to cover the higher level of risks associated with the peculiarities of the Polish economy. In addition, the issue of higher interest rates of the NBP vis-à-vis the CBs is also related to the transactions carried out by the NBP on international financial markets, as well as the exchange rate of the national currency PLN against other currencies. On the other hand, changes in the exchange rate of the PLN against other currencies also matter to foreign investors conducting speculative investment activities in Poland using securities listed on the Stock Exchange, i.e. primarily investment banks and investment funds operating transnationally. On the other hand, when we ask whether there is any type of entity that cares about the continued existence of the domestic PLN currency in Poland, it is primarily domestic commercial banks generating much higher profits from the situation as it is now, and also the already mentioned foreign banks and investment funds. Well, it has happened more than once that in periods of internationally or globally developing financial and economic crises, a decline in the level of economic stability, an increase in various categories of financial and other risks foreign financial institutions, such as. Foreign financial institutions, such as banks and investment funds based in the City of London, taking advantage of the situation of increased sensitivity of the PLN currency to various crisis factors, the situation of increased amplitude of fluctuations of the PLN exchange rate against other currencies determined by the increase in uncertainty and risks developing in the scope of economic activities carried out by thousands of entities, carried out speculative transactions with the involvement of large financial resources in the foreign exchange markets increasing the scale of destabilization in the issue of the formation of the PLN exchange rate against the euro and other currencies. So, when you do not know what the issue is about it is about money, or when you seem to know what the issue is about you choose many different arguments for the situation, but unfortunately a situation determined mainly by politics and not economics.

Specific economic and financial aspects relating to the issue of the possible adoption of the euro currency in Poland in the precisely unspecified future I described in the following article:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

Both US Presidents Bush and Obama called for a greater hydrogen-based economy; however, significant challenges remain as to generation and storage. Are there any significant advances in this field?

The idea of some of the small size economy ( developing countries ) trying to establishing an Exporters Consortium that will be in charge of marketing and distributing that country's products and services in the USA (utilizing a Free Trade Agreement FTA ).

The Exporters Consortium mihgt offere a new vision and a different mechanism that will maximize both the number and value of that

delvelping country's products and services exported to the USA.

Dear Researchers:

I'm wondering if you were a Farmer raising cattle or poultry to earn monthly income for yourself and your family, and could have been asked to convert your farm to a wheat, corn, or any other crop production field with less revenue than a meat-production farm, what would you do?

Please, also consider (please, put yourself in that situation) that beyond the significant difference in revenue between these two types of farms, some Farmers may have been doing meat-production farming for several generations as their family's business legacy.

Updates on April 16, 2024: First, many thanks to all contributors to this discussion for sharing their thoughts and ideas. I'd like to add a new concern that came up after reading all the answers provided by contributors to this discussion:

Please, also consider that as a Farmer, you may be aware that both types of meals, meat-based and plant-based/vegetarian, have different essential nutrients. For example, Animal Products such as Beef are rich sources of Vitamin B12, vital for body health as it helps with Red Blood Cell Formation and Anemia Prevention.

Please, take a look at the following link, about the importance of Vitamin B12, provided by the Healthline website, managed by several physicians to collect beneficial information for the public and science communities, based on the scientific literature in medicine:

Chalmers in his book: What is this thing called Science? mentions that Science is Knowledge obtained from information. The most important endeavors of science are : Prediction and Explanation of Phenomenon. The emergence of Big (massive) Data leads us to the field of Data Science (DS) with the main focus on prediction. Indeed, data belong to a specific field of knowledge or science (physics, economy, ....).

If DS is able to realize prediction for the field of sociology (for example), to whom the merit is given: Data Scientist or Sociologist?

10.1007/s11229-022-03933-2

#DataScience #ArtificialIntelligence #Naturallanguageprocessing #DeepLearning #Machinelearning #Science #Datamining

What is the role of algae in environmental sustainability and role of microalgae in achieving sustainable development goals and circular economy?

Why is environmental protection more important than economic development and is it possible to protect the environment and grow the economy?

We know that during the usage of commodity currencies, the scarcity of metals like gold and silver narrowed the money supply and did not allow economies to grow out of a specific natural capacity by forcing depressions that happened due to the lack of a medium of exchange and in turn, the economic incentives for production.

Fiat standard, however, allows the central banks to affect the GDP as they see fit; they might choose monetary policies that cause the enlargement of the economy, oblivious to the environmental capacity of their countries; this has, of course, resulted in a population boom during the past century but also caused problems within the environment.

Technology has increased our productivity and helped us dodge the Malthusian trap, but even if we look at Technology as a scarce accumulative resource that also takes time and energy to be amassed (unlike Fiat money), is it possible to blame Fiat Standard as a contributor to Humanity's environmental predicaments?

Every country has failed to allocate a large portion for education, therefore those countries have faced many big problems. For example, Sri Lanka allocates less than two percent of work for education

The way in which the contractual dispute was formed was that the fixed obligations of one party made it an economic force of the contract that could not be resisted, while the immutability of these obligations made the other party something rigid. This constitutes “a fundamental loophole in the contract, to prevent the fragmentation of the contract’s economy.”

1. What is the nature of international trade performance in Sri Lanka since 1980?

2. How will this trade performance have a short-term and long-term impact on the economy?

3. What are your alternative solutions to this economic crisis?

HHappiness is the target f millions ,and nowdays two wars in Ukranion and Gaza affect economy and life of the whole world,How can we end boths?

an essay of 2000 words.

The recent rapid development of generative artificial intelligence applications is increasingly changing labor markets. The development of generative artificial intelligence applications is increasing the scale of objectification of work performed within various professions. On the one hand, generative artificial intelligence technologies are finding more and more applications in companies, enterprises and institutions increasing the efficiency of certain business processes supporting employees working in various positions. However, there are increasing considerations about the possibility of black scenarios coming true in futurological projections suggesting that in the future many jobs will be completely replaced by autonomic AI-equipped robots, androids or systems operating in cloud computing. On the other hand, in opposition to the black scenarios of future developments in labor markets are contrasted with more positive scenarios presenting futuristic projections of the development of labor markets, where new professions will be created thanks to the implementation of generative artificial intelligence technology into various aspects of economic activity. Which of these two scenarios will be realized to a greater extent in the future is currently not easy to predict precisely.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

And what is your opinion on this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

In recent years, in economies characterized by a high level of development of ICT, Internet and Industry 4.0/5.0 information technologies, the scale of the impact of these technologies on the economic processes taking place is also growing. The aforementioned technologies are becoming one of the important factors of production in developed knowledge-based economies. More and more companies, enterprises, financial and public institutions are implementing the aforementioned technologies in order to improve economic processes, to increase the efficiency of the processes carried out in various spheres of economic and business activities. The implementation of the aforementioned new technologies into various spheres of business entities and public institutions increases the scale of digitization and Internetization of the economy. One of the spheres of the aforementioned process of digitization and Internetization of the economy is also the digitization and Internetization of the tax settlement system carried out by various entities operating in the economy, including citizens and business entities paying taxes to the institutions of tax offices. On the other hand, the issue of communication carried out remotely via the Internet between public institutions, including institutions of the fiscal system with citizens and business entities, companies and enterprises may improve. For citizens and business entities, the increase in the scale of digitization and Internetization of the economy may be associated with the convenience associated with the development of Internet-based remote communication. On the other hand, increasing the scale of digitization and Internetization of remote communication processes and tax settlements carried out online between citizens, business entities and institutions of the fiscal system may also contribute to reducing the scale of development of the shadow economy, avoidance of paying taxes to the state and, consequently, to increasing the scale of sealing the tax system.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

And what is your opinion on this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

In order to discuss many points of view on the subject with my students, I need your input.

Thanks!

F Güneri

The development of renewable and carbon-free energy sources is a key element in the green transformation of the economy. On the other hand, the development of renewable and carbon-free energy sources is also an important issue in the context of diversifying energy sources and increasing the scale of the country's energy independence and enhancing energy security. Increasing the share of renewable and emission-free energy sources in the energy source mix is not only the realization of the key objectives of the green transformation of the economy and the achievement of the goals of sustainable economic development, but also a significant reduction in the cost of energy production and energy prices for end users in the coming years. How the structure of different energy sources should be designed is a product of many different determinants. In terms of the aforementioned various determinants of the impact and design of the structure of energy sources, including fossil fuel-based energy and renewable and zero-carbon energy, among others, stand out. : the level of possession by the country of certain energy resources, the energy policy adopted in the country taking into account to a greater or lesser extent the issue of the green transformation of the economy and the implementation of sustainable development goals, the terrain and other natural conditions conducive to the development of wind, hydro and solar power, the scale of geothermal water resources in the earth's crust, the financial feasibility of building large nuclear power plants, the technologies in use for the construction of residential and other buildings, and the most appropriate to the prevailing prosumer building formulas of small power plants that generate energy to power individual buildings, the technologies in place to enable the development of hydrogen power and other technologically innovative types of energy. Since the design of the most appropriate energy mix for a country requires the consideration of many different determinants in the process of research, planning, design and implementation of investment processes, so it is a good solution to involve in this process generative artificial intelligence technology, which has been trained in the process of deep learning on large data sets and Big Data information on various aspects of energy, including different types of energy, different energy technologies, different energy sources, etc., and the above-mentioned determinants of energy development.

I described the key issues of opportunities and threats to the development of artificial intelligence technology in my article below:

OPPORTUNITIES AND THREATS TO THE DEVELOPMENT OF ARTIFICIAL INTELLIGENCE APPLICATIONS AND THE NEED FOR NORMATIVE REGULATION OF THIS DEVELOPMENT

I described the key issues of the problematic sources of Poland's exceptionally deep energy cross in 2022 in my co-authored article below:

POLAND'S 2022 ENERGY CRISIS AS A RESULT OF THE WAR IN UKRAINE AND YEARS OF NEGLECT TO CARRY OUT A GREEN TRANSFORMATION OF THE ENERGY SECTOR

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

Hello! I'm doing my master's degree in Econimics and Public Policy and my thesis is about building a life quality index for the city of Lisbon. My problem is: there is a lot of indexes in this world and I'm having difficulties selecting the most important or effective ones, for my purpose. Since there is no consensual definitition of Life Quality, it makes it harder for me to be selective towards them.

I'm not even sure which field best works with this concept, since its largely used within the medical field, that's not my point in this research. And economy also uses it but it doesnt seem to show any sociological base and its focused on measuring it and not describing it.

I might be wrong here. Like I said I'm feeling a bit lost and this is the first time i'm doing something like this. If any of you had experience with this subject/field I would be very grateful for any insight.

JAS Pi.ai LLM (Confluence: Copy & Paste)

Title: Foundation for Smart-City Migration Service Level Agreements

Description:

As we approach an era of significant change and the need for sustainable urban living, establishing a comprehensive framework for Smart-City Migration Service Level Agreements (SLAs) becomes crucial to ensure a smooth transition for "We The People." This foundation rests upon the interplay of personal relativity, private community, and public expenses, as we strive to establish coherent and sustainable Smart-City environments on a local, regional, and global scale.

The proposed Smart-City Migration SLA is based on the following components:

Person Relativity (Value: Enneagram -- Economies of Scale):

Recognizing the diverse needs and values of individuals, this component focuses on addressing personal growth, self-awareness, and interpersonal dynamics using the Enneagram model. By understanding people's motivations, fears, and desires, we can create economies of scale that cater to individual needs while fostering a sense of unity and purpose.

Private Community (Context: Epistemology -- Force Multiplication):

Fostering a strong sense of community is crucial in a Smart-City environment. By leveraging shared knowledge and understanding (epistemology), private communities can create a force multiplication effect that amplifies individual efforts and provides a supportive network for problem-solving and innovation.

Public Expense (Tax: Elementals -- LaGrange Points):

To establish effective and sustainable Smart-City Migration SLAs, public expenses need to be carefully managed and allocated. By focusing on elemental needs, such as infrastructure, public services, and environmental preservation, taxes can be optimized to support the growth and maintenance of Smart-City environments. LaGrange Points metaphorically represent the balance required to ensure stability and sustainability in these areas.

Service Level Agreement (Smart-City Migration: COIs -- Global Industry):

By integrating Communities of Interest (COIs) and considering global industry trends, we can design SLAs that address the unique needs of Smart-City inhabitants while fostering economic growth and technological innovation. This comprehensive approach ensures that migration plans are adaptable, resilient, and responsive to local, regional, and global changes.

As the foundation for Smart-City Migration Service Level Agreements, these components promote a holistic and inclusive approach to urban development, ensuring that "We The People" remain at the forefront of this transformative process. By empowering individuals, fostering community bonds, and responsibly managing public expenses, we can create thriving, sustainable Smart-Cities that are well-prepared for the challenges and opportunities of the future.

Generative artificial intelligence technology is currently being used to carry out various complex activities, to solve tasks intelligently, to implement multi-criteria processes, to create multi-faceted simulations and generate complex dynamic models, to creatively perform manufacturing processes that require processing large sets of data and information, etc., which until recently only humans could do. Recently, there have been attempts to create computerized, intelligent analytical platforms, through which it would be possible to forecast complex, multi-faceted, multi-criteria, dynamically changing macroprocesses, including, first of all, long-term objectively realized economic, social, political, climatic, natural and other macroprocesses. Based on the experience to date from research work on the analysis of the development of generative artificial intelligence technology and other technologies typical of the current Fourth Technological Revolution, technologies categorized as Industry 4.0/5.0, the rapidly developing various forms and fields of application of AI technologies, it is clear that the dynamic technological progress that is currently taking place will probably increase the possibilities of building complex intelligent predictive models for multi-faceted, complex macroprocesses in the years to come. The current capabilities of generative artificial intelligence technology in the field of improving forecasting models and carrying out forecasts of the formation of specific trends within complex macroprocesses are still limited and imperfect. The imperfection of forecasting models may be due to the human factor, i.e., their design by humans, the determination by humans of the key criteria and determinants that determine the functioning of certain forecasting models. In a situation where in the future forecasting models will be designed and improved, corrected, adapted to changing, for example, environmental conditions at each stage by artificial intelligence technology then they will probably be able to be much more perfect than the currently functioning and built forecasting models. Another shortcoming is the issue of data obsolescence and data limitation. There is currently no way to connect an AI-equipped analytical platform to the entire resources of the Internet, taking into account the processing of all the data and information contained in the Internet in real time. Even today's fastest quantum computers and the most advanced Big Data Analytics systems do not have such capabilities. However, it is not out of the question that in the future the dynamic development of generative artificial intelligence technology, the ongoing competition among leading technology companies developing technologies for intelligent chatbots, robots equipped with artificial intelligence, creating intelligent control systems for machines and processes, etc., will lead to the creation of general artificial intelligence, i.e. advanced, general artificial intelligence that will be capable of self-improvement. However, it is important that the said advanced general advanced artificial intelligence does not become fully autonomous, does not become completely independent, does not become out of the control of man, because there would be a risk of this highly advanced technology turning against man which would involve the creation of high levels of risks and threats to man, including the risk of losing the possibility of human existence on planet Earth.

I have described the key issues of opportunities and threats to the development of artificial intelligence technology in my article below:

OPPORTUNITIES AND THREATS TO THE DEVELOPMENT OF ARTIFICIAL INTELLIGENCE APPLICATIONS AND THE NEED FOR NORMATIVE REGULATION OF THIS DEVELOPMENT

In view of the above, I address the following question to the esteemed community of scientists and researchers:

And what is your opinion about it?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

I wanted to use the Polak Model to investigate the Dynamics of Balance of Payment in Tanzania. I came across the concept that, Polak model is a monetary approach to the balance of payment which seeks to model a small, open economy operating under fixed nominal exchange rate.

Now my question is, can it be used in developing countries with a flexible exchange rate?

During the Covid-19 pandemic, due to the decline in the economic activity of companies and enterprises in many sectors of the economy, there were opportunities to accelerate the processes of green transformation of the economy, to implement the principles of sustainable economic development, to direct the development of the economy towards the green circular economy model, to achieve the goals of sustainable development, to increase the scale of pro-environmental policies, pro-environmental, pro-climate policy and thus reduce greenhouse gas emissions, reduce the level of environmental pollution, and in the situation of continuation of these processes in the coming years, it is also to increase the scale of the possibility of implementing the scenario of slowing down the progressive process of global warming, to give humanity more time to prepare for the possible subsequent negative effects of progressive climate change, the developing climate crisis. Some countries have taken advantage of these opportunities, but unfortunately only in some countries.

These issues are presented in the article:

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

There seems to be a coordinated approach that apparently is centered in and propagating from the EU that seems to have started in 2023, where out of nowhere they are trying to bring back traditional economic thinking into the main stream by defining it circular using academic tunneling and alternative academic facts.

And hence, they perhaps know that a circular definition does not addresses the pollution production problem we have been trying to solve since WCED 1987/Our Common Future through sustainable development means, and later by the UNCSD 2012/The future we want through green economy, green growth and green market thinking to set up the blocks needed to transition to CLEAN MARKETS, all of which are beyond business as usual approaches.

And this raises a basic question: Is the circular traditional market a pollution reduction market?

If the central bank were to lend money to commercial banks on additionally preferential terms, with a concomitant requirement that the money be used to finance commercial banks' implementation of green investment projects by their customers, and thus conduct a green lending policy of providing green loans, could this kind of activity conducted by the central bank be described as green central banking activity? And if the scale of low-cost green loans thus provided by the central bank to commercial banks developing green commercial banking were relatively large, could the concept of green central banking monetary policy be introduced for this kind of situation? The above questions arise from the ever-increasing scale of some commercial banks' activities of granting green loans, issuing green corporate bonds, and, in combination with other financial instruments, conducting green banking, whereby commercial banks provide their clients, including borrowers, with financing for business ventures described as green because they are part of the trends of green transformation of the economy, increasing the scale of implementation of sustainable development goals, implementing investment projects involving, for example, the development of green energy. on the development of green energy, construction of power plants generating energy from renewable and emission-free energy sources, construction of wastewater treatment plants, improvement of logistics of sustainable production, development of waste sorting and recycling systems, development of sustainable organic agriculture, development of green areas, carrying out processes of aforestation of post-industrial areas, development of electromobility, etc. In view of the above, in the situation of the ever-increasing scale of the conducted process of green transformation of the economy and the increasing scale of commercial banks' green loans, green leasing, issuance of green bonds, etc., it is also in the field of central banking that analogous processes of increasing the importance of green finance should take place.

I am conducting research on this issue. I have included the conclusions of my research in the following article:

I invite you to discuss this important topic for the future of the planet's biosphere and climate.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

The combination of various analytical techniques, ICT information technologies, Industry 4.0/5.0, including Big Data Analytics, cloud computing, multi-criteria simulation models, digital twins, Business Intelligence and machine learning, deep learning up to generative artificial intelligence, and quantum computers characterized by high computing power, opens up new, broader possibilities for carrying out complex analytical processes based on processing large sets of data and information. Adding generative artificial intelligence to the aforementioned technological mix also opens up new possibilities for carrying out predictive analyses based on complex, multi-factor models made up of various interrelated indicators, which can dynamically adapt to the changing environment of various factors and conditions. The aforementioned complex models can relate to economic processes, including macroeconomic processes, specific markets, the functioning of business entities in specific markets and in the dynamically changing sectoral and macroeconomic environment of the domestic and international global economy. Identified and described trends of specific economic and financial processes developed on the basis of historical data of the previous months, quarters and years are the basis for the development of forecasts of extrapolation of these trends for the following months, quarters and years, taking into account a number of alternative situation scenarios, which can dynamically change over time depending on changing conditions and market and sectoral determinants of the environment of specific analyzed companies and enterprises. In addition to this, the forecasting models developed in this way can apply to various types of sectoral and macroeconomic analyses, economic and financial analyses of business entities, fundamental and technical analyses carried out for securities priced in the market on stock exchanges. Market valuations of securities are juxtaposed with the results of the fundamental analyses carried out in order to diagnose the scale of undervaluation or overvaluation of the market valuation of specific stocks, bonds, derivatives or other types of financial instruments traded on stock exchanges. In view of the above, opportunities are now emerging in which, based on relevant historical economic data, generative artificial intelligence can be trained so as to build a system that automatically conducts sectoral and macroeconomic analyses, economic and financial analyses of business entities, fundamental and technical analyses for securities priced on stock exchanges.

I described the key issues of opportunities and threats to the development of artificial intelligence technology in my article below:

OPPORTUNITIES AND THREATS TO THE DEVELOPMENT OF ARTIFICIAL INTELLIGENCE APPLICATIONS AND THE NEED FOR NORMATIVE REGULATION OF THIS DEVELOPMENT

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

COVID 19 pandemic has resulted in a widespread use of digital technology. In addition, it has given the boost to gig economy. Therefore, this discussion aims an interaction on how digital platforms are contributing towards freelancing.

How can we develop strategies to achieve an effective green economy to achieve real development?

What is the effect of devaluation of the Naira on the economy and GDP of Nigeria?

In view of the above, with the development of renewable and emission-free energy sources there are many technological and environmental constraints on certain categories of spent materials used in this type of energy. On the one hand, it is necessary for power companies to make investments in electricity transmission and storage networks. On the other hand, economical technologies for the production of low-cost energy storage and recycling, disposal of used batteries and photovoltaic panels, including the recovery of rare metals as part of the aforementioned disposal process, are still to be developed. In addition, the problem of overheating of batteries in electric vehicles and the occurrence of situations of spontaneous combustion of these devices and dangerous, difficult to extinguish fires of the said vehicles are still not fully resolved. If the solution to such problems is mainly a matter of necessary improvements in technology or the creation of new, innovative technology, then arguably generative artificial intelligence technology should come to the rescue in this regard.

I described the key issues of opportunities and threats to the development of artificial intelligence technology in my article below:

OPPORTUNITIES AND THREATS TO THE DEVELOPMENT OF ARTIFICIAL INTELLIGENCE APPLICATIONS AND THE NEED FOR NORMATIVE REGULATION OF THIS DEVELOPMENT

Important aspects of the implementation of the green transformation of the economy, including the development of renewable and zero-carbon energy sources I included in my article below:

IMPLEMENTATION OF THE PRINCIPLES OF SUSTAINABLE ECONOMY DEVELOPMENT AS A KEY ELEMENT OF THE PRO-ECOLOGICAL TRANSFORMATION OF THE ECONOMY TOWARDS GREEN ECONOMY AND CIRCULAR ECONOMY

I invite you to discuss this important topic for the future of the planet's biosphere and climate.

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best wishes,

Dariusz Prokopowicz

How forests play an important role in the ecology and economy of India and importance of forest for environment and economic development?

The development level at which zambia is moving in the 21st century.

if the named theories still have an impact on the economy of zambia.

What has been done, regardless of the theories still playing a bigger role.

The Covid-19 pandemic contributed to the modification of globalization processes. The pandemic caused an increase in the scale of the processes of information globalization, technological globalization, etc., including, among other things, also affecting logistics processes and chains. Due to broken logistics chains, the scales of economic globalization processes have decreased. On the other hand, the scale of ecological globalization processes may have also increased. My research shows that globalization processes of different nature have been taking place in recent years. A distinction is made in this connection between economic globalization, information globalization, technological globalization, communication globalization, cultural globalization, mental globalization and ecological globalization, etc. Each of these globalizations generates various positive and negative aspects. In each of these globalizations, either positive or negative aspects prevail, specific aspects that may have already appeared at the genesis of certain globalization processes, or when globalization significantly increased its impact on the economies of individual countries, on the operation of certain corporations, on people and their awareness of the modern world, and so on. In recent years, for example, information globalization has been particularly strongly developed through the Internet. In recent years, the importance of communication globalization associated with the development of tourism has gained additional cognitive aspects in connection with, for example, the development of the Covid-19 pandemic. The acceleration of the development of internationally and globally operating corporations, which has been taking place for several decades, has increased the importance of economic globalization processes. Also, the removal of barriers to cross-border flows of goods, services, factors of production, financial capital are also counted among the key source factors of economic globalization. Globally operating investment banks and investment funds generate processes of financial globalization. With the growing global importance of a particular currency, monetary globalization is deepening. The development of the European Union is an example of simultaneously occurring different aspects of globalization processes. Increasing the scale of the share of tourism services in GDP in some countries increases the importance not only of communication globalization but also of cultural globalization, as people learn the values of other cultures, other communities, other countries, etc. Significant factors in such globalization processes also include the globalization of certain fields of art, such as filmmaking or certain specific works of art. Various aspects of globalization are developing, for example, online computer games played by people living in different parts of the globe. In this way, the overall social consciousness of the inhabitants of planet Earth is being globalized, and globalization of a mental nature is taking place. During the Covid-19 pandemic, the importance of the digitalization of economies increased, including the exchange of information, the continuation of educational processes in schools and universities, the implementation of professional activities, the performance of work in various professional positions through the Internet, i.e. in remote online form. These processes have increased the importance of information and technological globalization concerning ICT, Internet technologies, Industry 4.0 and their use in various branches and sectors of modern economies. If a particular framing, interpretation of a global problem such as the SARS-CoV-2 coronavirus pandemic or environmental-ecological problems, including, for example, the global littering of the environment with plastic, the global nature of climate change, the progressive process of global warming, the need to develop international cooperation in the increasingly globalizing environmental policy, the implementation of the principles of sustainable development, etc., is spread, then the global significance of a particular idea is strengthened. In such a situation, specific examples of mental globalization are included in the research. In view of the above, an objective assessment of a holistic, comprehensive, integrated view of globalization processes is not easy. In order to increase the accuracy and objectivity of this type of assessment it would be necessary to take into account many, thousands of factors of various globalization processes and, taking into account their importance, relative level of significance, variability over time, etc., conduct this type of analysis using a complex, multi-faceted analytical model and advanced IT data processing technology, for example, using Big Data Analytics technology. By using this type of analytical approach, it is much easier to undertake analysis and evaluation of a certain type of globalization processes, i.e., for example, economic globalization, information globalization, technological globalization, communication globalization, cultural globalization, mental globalization, environmental globalization, etc. The research also shows that the impact of globalization on society and the environment can be large. During the Covid-19 pandemic, international, including intermodal logistics chains were temporarily interrupted is some production processes may be transferred to other countries. This led to a situation where multinational corporations that had divided their production processes in previous years into stages carried out in plants and factories located in other countries now, due to supply logistics problems, may return to the concept of concentrating the entire production processes in the same countries, in the countries of the company's headquarters or in countries that are much shorter distances away. It has happened that many factories have returned from developing countries to developed countries despite slightly or significantly higher production costs. In this way, the risk of sourcing, procurement logistics, etc. was greatly reduced. If such internationally happening economic processes are also realized in the years to come, then the retreat of economic globalization processes will deepen. Besides, also between the issues of ecology, sustainable development, climate change, the process of global warming, etc. and globalization can also be diagnosed many correlations. The promotion of the idea of sustainable pro-ecological development principles, including the implementation of ecological innovations into economic processes, should be an important factor in the current information globalization carried out through various media, including online media and social media. More and more institutions promoting the principles of sustainable pro-ecological economic development are operating beyond national borders. The development of international cooperation for greater and more effective integration of political, business and social activities in implementing the principles of sustainable pro-ecological economic development, spreading the concept of green closed-loop economy, introducing ecological innovations, including reforming the energy sector and developing renewable energy sources, developing electromobility, improving waste segregation, developing recycling is insufficient, is too small. Therefore, the transfer of technology and innovation, including ecological innovation between countries should be improved and developed. In order to increase the global scale of implementation of ecological innovations into economic processes, it is necessary to improve the logistics of international transfer of ecological technologies. In my opinion, environmental policy should be internationally synchronized. There should be greater compatibility and supra-national cooperation on the implementation of ecological innovations into economic processes, pro-ecological reforms in the energy sector, reduction of greenhouse gas emissions and improvement of recycling processes, waste segregation and reclamation of areas of the natural environment degraded by industrial development. Supra-national institutions such as the UN, the World Bank, etc., should be given greater importance in coordinating the solution of global problems such as the ongoing process of global warming. In view of the above, globalization processes have a large multifaceted impact on society and the environment. In view of the above, the Covid-19 pandemic has set back some issues of globalization processes and the development of deglobalization processes. Therefore, now a fully legitimate research question may be the issue of resolving whether, after the pandemic, again the processes of globalization, including economic globalization began to develop and return to the state before the pandemic, or vice versa, i.e. whether the processes of deglobalization continue to dominate and perhaps deepen? What are your thoughts on this issue? I invite you to discuss this topic and to cooperate with me in research.

I am conducting research on this issue. I have included the conclusions of my research in the following article (top cited in my scientific publication):

For the purposes of this discussion, I also provide a link to an article of my co-authorship on the impact of the Covid-19 pandemic on the processes of globalization and the development of deglobalization processes:

IMPACT OF THE SARS-COV-2 CORONAVIRUS PANDEMIC (COVID-19) ON GLOBALIZATION PROCESSES

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think about this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz

How does inventive thinking contribute to sustainable economy?

In recent years, there has been a growing scale of implementation of Industry 4.0/5.0 technologies, including Big Data Analytics, Data Science, multi-criteria simulation models, digital twins, additive manufacturing, Blockchain, smart technologies and also generative artificial intelligence to business entities in order to improve internal information systems of the Business Intelligence type supporting the management processes of a company, enterprise, corporation or other type of business entity. The Covid-19 pandemic has accelerated the processes of digitizing the economy. The importance and application of analytics conducted via the Internet and/or using data downloaded from the Internet is also growing. An example is sentiment analysis conducted on data downloaded from the Internet implemented on Big Data Analytics platforms being an additional research instrument of conducted market research, marketing research as an additional source of data for conducted Business Intelligence type analysis. This is particularly important because in recent years the importance of Internet marketing, including viral marketing, Real-Time marketing carried out on social media sites is increasing. Accordingly, in many industries and sectors of the economy, there is already an increase in the application of certain Industry 4.0 technologies, i.e., such as Big Data Analytics, Data Science, cloud computing, machine learning, personal and industrial Internet of Things, artificial intelligence, Business Intelligence, autonomous robots, horizontal and vertical data system integration, multi-criteria simulation models, additive manufacturing, Blockchain, cybersecurity instruments, Virtual and Augmented Reality and other advanced data processing technologies Data Mining. Besides, using Big Data Analytics, interesting research is being conducted in the field of the issue: Analysis of changes in the relationship of consumer behavior in the markets for goods and services caused by the impact of advertising campaigns conducted on the Internet, applying new Internet marketing tools used in new online media, including primarily social media. The growth of behavioral economics and finance, including the analysis of the determinants of media formation of consumer opinions on the recognition of the company's brand, product and service offerings, etc., through the growth of Internet information services, including social media portals. Currently, online viral marketing based on social media portals and customer data collected and processed in Big Data Analytics databases is developing rapidly. In recent years, new online marketing instruments have also been developed, applied mainly on social media portals and are also used by e-commerce companies. Internet technology companies and fintechs are also emerging, offering online information services to assist marketing management, including in planning advertising campaigns for products sold via the Internet. For this purpose, the aforementioned sentiment analyses are used to study the opinions of Internet users regarding the prevailing awareness, recognition, brand image, mission, offerings of certain companies. Sentiment analysis is carried out on large data sets taken from various websites, including millions of social media pages, collected in Big Data systems. The analytical data collected in this way is very helpful in the process of planning advertising campaigns carried out in new media, including social media sites. These campaigns advertise, among other things, products and services sold via the Internet, available in online stores. In view of the above, the development of e-commerce is mainly determined by technological advances in ICT information technology and advanced data processing technology Industry 4.0, as well as new technologies used in securing financial transactions carried out over the Internet, including transactions related to e-commerce, i.e. blockchain technology, for example. In my opinion, ongoing scientific research confirms the strong correlation occurring between the development of Big Data technologies, Data Science, Data Analytics and the efficiency of the use of knowledge resources. I believe that the development of Big Data technology and Data Science, Data Analytics and other ICT information technologies, multi-criteria technology, advanced processing of large sets of information, Industry 4.0 technology increases the efficiency of the use of knowledge resources, including in the field of economics, finance and organizational management. In recent years, ICT information technologies, Industry 4.0, etc., have been developing particularly rapidly and are being applied in knowledge-based economies. These technologies are being applied in scientific research and business applications in commercially operating enterprises and in financial and public institutions. In view of the growing importance of this issue in knowledge-based economies, it is important to analyze the correlation between the development of Big Data technologies and analytics of Data Science, Data Analytics, Business Intelligence and the efficiency of using knowledge resources to solve key problems of civilization development. Analytics based on Business Intelligence, in addition to Data Science, Big Data Analytics are increasingly being used in improving business management processes. The development of this analytics based on the implementation of ICT information technologies and Industry 4.0 into analytical processes has a great future in the years to come. In recent years, ICT information technologies, Industry 4.0, etc., have been developing particularly rapidly and are being applied in knowledge-based economies. In addition, the application of artificial intelligence technologies can increase the efficiency of the use of Big Data Analytics and other Industry 4.0/5.0 technologies, which are used to support business management processes.

I have described the issues of application of Big Data and Business Intelligence technologies in the context of enterprise risk management in the following article:

APPLICATION OF DATA BASE SYSTEMS BIG DATA AND BUSINESS INTELLIGENCE SOFTWARE IN INTEGRATED RISK MANAGEMENT IN ORGANIZATION

In addition, I described the issues of opportunities and threats to the development of AI technology applications in my following article:

OPPORTUNITIES AND THREATS TO THE DEVELOPMENT OF ARTIFICIAL INTELLIGENCE APPLICATIONS AND THE NEED FOR NORMATIVE REGULATION OF THIS DEVELOPMENT

In view of the above, I address the following question to the esteemed community of scientists and researchers:

What do you think on this topic?

What is your opinion on this issue?

Please answer,

I invite everyone to join the discussion,

Thank you very much,

Best regards,

Dariusz Prokopowicz