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Purpose -This paper aims to point out a way to overcome the circumstances that arose out of the global neoliberal system. It is argued that this is possible when all relevant actors in society cooperate and that a change in a way of thinking in the private sector needs to come from within. Design/methodology/approach -The paper searches the alternative to neoliberalism in the social economy and responsibility paradigms by examining their theoretical and normative standpoints linking them to practical views. Findings -The paper argues that the solution to the hegemonic neoliberalism is the new model of social economy which can be put in force only by simultaneous cooperation of all key actors in a society, and especially a driving force behind the existing economic system -the for-profit sector. Lately it seems that its actors have, indeed, more actively take over their role within social economy, acknowledging the importance of the socially responsible behaviour. Originality/value -The paper introduces a four-leaf clover model of social economy actors and integrates the social economy paradigm with the notion of social responsibility of the for-profit sector.

The article deals with the relevance of post-Keynesian theory of conflict inflation for the transition economies. While the conflict inflation theory does not have any explanatory tower for the performance of socialist economies and for their immediate post-socialist behaviour. it becomes relevant in later phases of their transition. The reason lies in the development of labour market institutions and in the establishment of collective bargaining. The inflation rate is determined by the real wage aspiration gap and by the bargaining power of the capital and labour side. The pervasive role of the state in setting target wage guidelines and a weak position of employers' organizations and trade unions as typical features of transitional tripartism lead to a relatively low rate of conflict inflation. However, this type of inflation is not responsive to monetarist anti-inflationary measures, which successfully cured the hyperinflationary tendencies in early transitional stages. Conflicting-claims inflation requires a more delicate approach. based on incomes policy measures and growth incentives.

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