Vol. 9, No. 3, September 2025
Editor-in-chief:
Prof. Johannes (Joost) Platje
Deputy Editor-in-chief
Prof. Kazim Baris Atici, Hacettepe University, Ankara, Turkey
Co-Editor:
Prof. Ali Emrouznejad, University of Surrey, United Kingdom
Dr. Wim Westerman, University of Groningen, The Netherlands
Vol. 9, No.3, September 2025, 7-20
Received: 03.06.2025, Revised: 10.07.2025, Accepted: 13.07.2025
Social Investments and Regionalism as a Phase in the Development of Social Policy?
Author: Józef Orczyk
WSB Merito University in Poznań, Poland
ORCID: http://orcid.org/0000-0002-7091-3839
Aim: This article explores the evolving role of social investments and regionalism as contemporary phases in the development of social policy, with a focus on Poland. The research aims to examine how shifting economic, demographic, and technological conditions, including labor market volatility, environmental constraints, and educational inadequacies, create the need for a transformation of traditional welfare models into more adaptive, regionally-sensitive, and investment-oriented strategies.
Design / Research methods: This is a conceptual and analytical study based on critical review and synthesis of historical developments, institutional changes, and policy strategies in European and Polish social policy.
Conclusions / findings: The paper identifies social investments, particularly in education, as a key instrument for improving societal adaptability to modern challenges. It emphasizes the growing importance of regional differentiation in social policy, highlighting the need for decentralized and flexible approaches. In Poland, this transformation remains limited due to institutional inertia and centralization, despite evidence of local readiness and emerging initiatives.
Originality / value of the article: The article offers a novel integration of social investment theory with regionalism, showing their potential synergy for modernizing welfare policy. It is particularly valuable for policymakers, educators, and scholars interested in sustainable and inclusive development, as well as for practitioners designing regionally responsive social programs.
Implications of the research: The findings suggest that enhancing local autonomy and investing in adaptive education systems can significantly strengthen social cohesion and labor market inclusion. They offer a policy framework for rethinking how central and regional authorities share responsibility for social development.
Keywords: Social policy, Social investments, Human capital, Welfare state, Poland, Institutional change
JEL: I38, H75, R58, I24, J24.
Vol. 9, No.3, September 2025, 21-57
Received: 25.06.2025, Revised: 19.08.2025, Revised: 22.08.2025, Accepted: 03.09.2025
Literature Review of Integrating Cultural Heritage in the Reclamation Processes
Authors: Katarzyna MAZUR-WŁODARCZYK
ORCID: https://orcid.org/0000-0002-4822-9328
Joanna GUZIAŁOWSKA-TIC
ORCID: https://orcid.org/0000-0003-2598-2672
Opole University of Technology, Poland
Aim: Reclamation is a complex and costly process that involves technical and biological activities aimed at restoring degraded areas for specific future uses. The effectiveness of reclamation depends on the chosen direction, which influences whether the land can immediately serve its intended function or requires further development. Beyond environmental benefits, reclamation and development efforts support economic growth, job creation, and improved quality of life, while also contributing to the preservation of cultural heritage and sustainable development. The article presents the results of literature review focusing on answering the following questions: how is cultural heritage linked to the issues of the regeneration of degraded areas and how do different forms of regeneration use cultural heritage to counteract the effects of degradation of given areas?
Design / Research methods: A secondary study was conducted focusing on reviewing existing research materials, concentrated on summarizing the obtained data.
Conclusions / findings: The concepts of reclamation, rehabilitation, restoration, revitalization, recultivation, and revegetation were explained. The research part focused on four approaches to heritage in the context of revitalization: cultural heritage in areas after natural disasters; cultural heritage in areas damaged by human intervention; preparations for intervention in the event of natural disasters and disasters resulting from human intervention; and cultural heritage as a means/tool facilitating the regeneration of given areas.
Originality / value of the article: Materials devoted to the subject of heritage are related to four different aspects. Two of them are associated with the preservation of heritage in degraded areas, the third is related to the group of remedial and preventive actions, and only a small part is devoted to heritage as a tool and its role in revitalization processes.
Keywords: cultural heritage, reclamation, revitalization, reconstruction, recultivation, devastated areas, economic culture.
JEL: Q01, Q56, Z10.
Vol. 9, No.3, September 2025, 59-84
Received: 06.07.2025, Revised: 18.09.2025, Accepted: 28.11.2025
The Impact of Online Trading on Stock Market Efficiency: what have we learned from the Gamestop case?
Author: Arturo CAPASSO, Università degli Studi del Sannio, Italy. WSB Merito University in Wrocław, Poland
ORCID: https://orcid.org/0000-0002-1379-3009
Aim: To examine the impact of online trading and technological innovations on stock market efficiency, with a focus on the GameStop case as an illustrative example.
Research methods: Conceptual and qualitative analysis drawing on the GameStop event, regulatory comparisons between the US and Europe, and a review of literature on electronic trading platforms, financial information dissemination, and social media–driven investor coordination.
Findings: Online trading platforms, Web 2.0, and social media have transformed investor behaviour and market dynamics. The GameStop case revealed how coordinated retail investors can challenge traditional market mechanisms and the efficient market hypothesis. The “gamification” of trading apps encourages speculative behaviour and raises concerns about investor risk awareness. Regulatory approaches to short selling differ between the US and Europe, highlighting the need for balanced, internationally coordinated frameworks. Strengthened financial education and updated regulation are essential to mitigate risks while retaining the benefits of technological advances.
Keywords: Online trading, Stock market efficiency; GameStop case, Social media
JEL: G14, G18, G23, O33
