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PROBLEMS OF MODERN ECONOMICS, N 4 (68), 2018
ISSUES OF ECONOMIC THEORY. MACROECONOMICS
Kostin K. B.
Chair of International Economics and International Economic Relations, St. Petersburg State University of Economics PhD (Economics), Professor
Guba M. N.
PhD student, Chair of International Economics and International Economic Relations, St. Petersburg State University of Economics

Evolution of the global economy: development of economic relations in the sphere of exchange (Russia, St. Petersburg)
The article presents a critical perspective upon a number of traditional principles of neo-classical economics and discusses the contemporary evolutionary stage of the world economy when quantitative changes of transactional and informational costs transform into qualitative modifications of the global economic system as a whole. The main drawback in mainstream approaches to the economic development is the foregrounding of the idea of growth as its major aim. The authors apply the method of heterodox directions of the economic thought, analyze economists’ ideas upon the economic growth and development, and reveal the lack of coordination between the aims of the contemporary economic system and its original foundations
Key words: global economy, evolutionary economy, economic growth, transaction costs, sphere of exchange
Pages: 37 - 42



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