№ 8/2020

Ekon Ukr. 2020 (8): 3–23https://doi.org/10.15407/economyukr.2020.08.003

PROBLEMS OF ECONOMIC THEORY

УДК 338.1:004

JEL:

ZVERYAKOV Mykhailo¹

¹Odesa National Economic University, Research ID : http://www.researcherid.com/rid/http://www.researcherid.com/rid/B-1523-2015
OrcID ID : https://orcid.org/https://orcid.org/0000-0003-0039-5068

ECONOMIC DEVELOPMENT IN THE ERA OF “DIGITAL CAPITALISM” FORMATION

The qualitative changes in the economic system of modern capitalism under the influence of digital technologies are theoretically studied. It is substantiated that the development of digital technologies in highly developed countries characterizes a new stage of the industrial revolution, the essence of which is the liberation of man from direct productive activity. It is shown that in the conditions of global capitalism there are relations of domination of developed countries and subordination of developing ones. The advanced countries, first, restructure the economies of dependent countries, reducing it to several export industries adapted to the needs of the metropolis, and secondly, transform the social structure of societies, forming the comprador bourgeoisie and the market of cheap labor.
Based on the methodological principles of the reproduction process, the nature of economic development is studied, the economic limits of the application of industrial technology and the objective preconditions for the transition to “digital” means of production are substantiated. The logical connection between reindustrialization and the formation of “digital” productive forces in the Ukrainian economy is revealed.
A specific contradiction between the special type of economic relations that led to the deindustrialization of the Ukrainian economy and the limited capabilities of the available productive forces that ensure sustainable economic growth is revealed. It is determined that the development of new digital technologies involves first the restoration of the traditional three-link system of machines, i.e. the start of the reproduction cycle of industrial capital. Since the starting point of industrial capital is money capital, monetary and fiscal policies, in addition to determining macroeconomic proportions, should be the main links of economic policy. It is shown that one of the reasons for the failure of the reforms is the dominance of ideology over scientific developments.
The provisions contained in this scientific study can serve as a scientific basis and methodological basis for the development of economic and industrial policy.

Keywords:digital technologies; economic development in the conditions of intensive type reproduction; reindustrialization; industrial cycle

Article original in Ukrainian (pp. 3 - 23)

Download

Downloads :196

The article was received by the Editorial staff on August 3 , 2020

References
1. Marx K. Economic Manuscripts 1857-1859. Vol. 46, Part II, Moscow, Politizdat, 1969 [in Russian].

2. Galbraith J.K. The New Industrial State. Moscow, AST, 2004 [in Russian].

3. Solow R.A. Contribution to the Theory of Economic Growth. Quarterly Journal of Economics, Vol. 70, February, 1956, pp. 65-94.
doi.org/10.2307/1884513

4. Romer P.M. Increasing Returns and Long-Run Growth. Journal of Political Economy, Vol. 94, October, 1986, pp. 1002-1037.
doi.org/10.1086/261420

5. Cherif B., Hasanov F., Chami R. Sharp instrument: A Stab at identifying the causes of economic growth. IMF Working Paper, No. 18/17, 2018.
doi.org/10.5089/9781484357170.001

6. Freeman R. What really ails Europe (and America): the doubling of the global workforce. The Globalist, March, 2010, No. 5, available at: theglobalist.com/storyid.aspx?StoryId=4542.

7. Eshchenko P. Economic growth without development: reasons and ways of an innovative transformation of the economy. Economy of Ukraine, No. 10, 2013, pp. 4-20 [in Ukrainian].

8. Hrytsenko A. Digital development: structure, capitalization and socialization. Economic theory, No. 4, 2018, pp. 5-20 [in Ukrainian].
doi.org/10.15407/etet2018.04.005

9. Perez C. Technological Revolutions and Financial Capital. Moscow, Delo, 2013 [in Russian].

10. Rifkin J. The Third Industrial Revolution; How Lateral Power is Transforming Energy, the Economy, and the World. Moscow, Alpina Nonfiction, 2014 [in Russian].

11. Marx K., Engels F. Essays. Moscow, Gospolitizdat, 1960 [in Russian].

12. Zyablyuk R. Economic definition of the nature of the modern industrial revolution. Economist, No. 1, 2020, pp. 8-24 [in Russian].

13. Porokhovsky A.A. The era of the mixed economy. The growth in the volume of market transactions enhances the financial role of the state. Politekonomiya, No. 11 (70), 2011, pp. 23-39 [in Russian].

14. Schmidt E., Cohen J. The New Digital Age: Reshaping the Future of People, Nations and Business. Moscow, Mann, Ivanov and Webber, 2013 [in Russian].

15. Albert M. Capitalism vs. Capitalism. Moscow, Economic School, 1998 [in Russian].

16. Schwab K. What kind of capitalism do we need? Vedomosti, February 2, 2019 [in Russian].

17. Gavrilishyn O. Capitalism for All or for the Select? Kyiv, KMA, 2007 [in Ukrainian].

18. Zveryakov M. Theoretical paradigm of sustainable development and Ukrainian realities. Economy of Ukraine, No. 10, 2018 pp. 10-31 [in Ukrainian].
doi.org/10.15407/economyukr.2018.10.010