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Arton Hajdari
Shenaj Hadzimustafa


This paper addressed the globally spread challenges that countries face, such as environmental issues, which have been accumulated for years, and financial crises, which have been repeated many times in the world’s economy during capitalism. Indeed, through a qualitative scientific approach, the article argued that laissez-faire economics or laissez-faire capitalism (as an economic system or doctrine, i.e., a liberal and classical view of economics) is not the right way to overcome and deal with these problems. Instead, some interventions in the economy and cooperation between countries and the respective institutions are required so that these difficulties (environmental issues and financial crises), which do not recognize borders, are prevented and afforded properly. Thus, this publication presented how challenging environmental issues are, which are spread worldwide, and it also discussed financial crises, such as the 2008 Financial Crisis (also known as the Great Recession) and the Great Depression of the 1930s. Overall, this paper concluded that dual crises (environmental and financial crises) are the robust proofs that dismiss the extreme form of capitalism or economics, known as laissez-faire.        


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How to Cite
Hajdari, Arton, and Shenaj Hadzimustafa. 2023. “ENVIRONMENTAL ISSUES AND FINANCIAL CRISES DISMISS LAISSEZ-FAIRE CAPITALISM ”. Journal of Liberty and International Affairs 9 (2):550-60. https://doi.org/10.47305/JLIA2392725h.
Author Biographies

Arton Hajdari, Faculty of Business and Economics, South East European University - Tetovo, North Macedonia

Arton Hajdari is a PhD candidate in the Faculty of Business and Economics at SEEU, Tetovo, North Macedonia. He has been working for the Financial Intelligence Unit (FIU) of the Republic of Kosovo for 12 years, in the division of financial analysis, operations and compliance inspection. Before joining the FIU, he worked in the financial sector in the finance and accounting department. Meanwhile, he has been engaged in part-time jobs (as a lecturer, trainer, instructor etc.) for more than a decade for different local and international institutions, like OSCE Mission in Kosovo, UNODC-Academy of Justice, Basel Institute on Governance-UNDP-Academy of Justice, UNAID-Academy of Justice, AFAS etc. He has been awarded four times with a certificate of appreciation for his contribution as a lecturer. Moreover, he is a certified financial forensics expert, a certified financial accountant and a certified trainer by UNODC. His research interests include economic growth, finance and school of thought in economics.

Shenaj Hadzimustafa, Faculty of Business and Economics, South East European University - Tetovo, North Macedonia

Shenaj Haxhimustafa is a Professor of Entrepreneurship and Family Business at Faculty of Business and Economics, South-East European University, North Macedonia. Her PhD research covered the thesis as follows: "Knowledge economy and sustainable economic growth with a special accent on the Republic of Macedonia". While she has published many research papers up to now with empirical quantitative analysis, as well as qualitative ones.. Her speciality is knowledge economy, as well as environmental economics and behavioural economics. Her expertise also includes (but not limmited to) the National expert – UNDP and AFO (SDC funded project), Skopje, Macedonia, External researcher - Macedonian Academy for Science and Arts (MANU), Consultant for fiscal policy research – UNDP, Consultant for fiscal policy research - UNDP, Skopje, Macedonia, Team member – economist, Centre for Economic Analyses – CEA, Consultant - World Bank, Skopje, Team member – economist – SEEU & UNDP, North Macedonia.