Did the Bubble Burst? The Portuguese Economy During COVID-19

In this paper we analyse the situation of the Portuguese Economy referring to the Covid-19. We start by contextualizing in the problematic “Bubble – Miracle” as described by Tomé, 2018. We then analyse the current situation in a Macroeconomic way, according to eight specific questions, and then we specify regarding four sectors, namely tourism, education, the public sector, and the industrial sector. We conclude that the Covid-19 is the ultimate and unexpected test to the Portuguese economy, and that it will contribute to solving the “Bubble vs. Miracle” question. Rather curiously, we believe that the Covid-19 will accelerate the change to the “Miracle” society, because solving the crisis will require changes that will direct the society towards the “Miracle” paradigm and will distance Portugal from the old and “Bubble” one.

From Coordinated to Disorganized Capitalism in Japan

This chapter discusses the key changes that have been witnessed in Japan's political economy throughout the postwar period. In the 1970s, Japan experienced a slowing of gross domestic product (GDP) growth, although it maintained a growth rate of over 3 percent per year until the late 1980s. Efforts to maintain a sustained level of growth during the 1980s resulted in a “bubble economy,” with asset prices rising rapidly. Deploying a regulation theory approach, the chapter shows how Japan has experienced a process of neoliberalization since its economic bubble burst in 1991, with one of the key effects being the emergence of a new and growing group of precarious nonregular workers. The coordination between firms, workers, and institutions that enabled stability in employment relations from the end of the Second World War to the 1980s has been replaced by a trend toward neoliberalization, deregulation, and a lack of coordination. Ultimately, the Japanese model of capitalism has become increasingly disorganized, resulting in heightened anxiety and insecurity among workers.

Dynamic Characteristics and Wall Effects of Bubble Bursting in Gas-Liquid-Solid Three-Phase Particle Flow

The bubble bursting process existing in the particle flow is a complex gas-liquid-solid three-phase coupling dynamic problem. The bubble bursting mechanism, including dynamic characteristics and wall effects, is not clear. To address the above matters, we present a modeling method for the piecewise linear interface calculation-volume of fluid (PLIC-VOF) based bubble burst. The bubble bursting process near or on the wall is analyzed to reveal the dynamic characteristics of bubble bursting and obtain the effect of a bubble bursting on the surrounding flow field. Then a particle image velocimetry (PIV) based self-developed experimental observation platform is established, and the effectiveness of the proposed method is verified. Research results indicate that, in the high-speed turbulent environment, a large pressure difference existed in the bubble tail, which induces the bubble burst to occur; the distance between the wall and the bubble decreases; the higher the flow velocity is, the less time is acquired for bubble bursting, but when the flow velocity exceeds the critical velocity 50 m/s, more time is needed; the coalescence-burst process of double bubbles increases the bubble bursting time, which causes the acceleration of particle motion to reduce.