Market, state and business in coordinates of the new economy

  • Released On
    Tuesday, 19 September 2017
  • Author(s)
  • DOI
    http://dx.doi.org/10.21511/ppm.15(3).2017.07
  • Article Info
    Volume 15 2017, Issue #3, pp. 76-97
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The formation of the new economy, which is replacing the industrial economy and has a multi-vector dimension1, causes deep transformations in all spheres of social existence, leads to the emergence of new forms and methods for organizing interactions between institutions that function in the area of socio-economic development. The relevance of the study is caused by the necessity of theoretical and applied substantiation of the new subjective composition and network interaction of these institutions. The scientific and practical significance of the research is to substantiate the formation and development of modern institutions and to establish a new format for their interaction within the framework of the new economy. The results of the study are aimed at identifying the latest trends in the modernization of institutes’ functions in the triad “market – state – business”. The subject of the study is the theoretical and applied principles of the social phenomenon “market – state – business”. The methodological basis for achieving this goal is systematic and interdisciplinary approaches to the study of redistribution of roles among these institutions and the improvement of their interaction in the process of ensuring sustainable development. The purpose of the research is a scientific and theoretical substantiation of the new configuration of the social phenomenon “market – state – business”. The principal position of the authors is their belief that a new interpretation should be given if not to all, but to the majority of categories and concepts that reflect the phenomena and processes occurring in the chain “market – state – business”. There is a need for a new, unorthodox, unconventional understanding of most of the phenomena and processes associated with the functioning of the leading institutions of the economy and society. The article presents the authors’ view on the contemporary role of each of the mentioned institutions, their interaction in the process of ensuring sustainable development. Particular attention is paid to the substantiation of the transformation of functions of the state and business under the current conditions. The authors demonstrate that the contemporary role and place of the leading institutions, which have to ensure sustainable development, need a new understanding.

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    • Table1. Social Expenditures in OECD Countries, % of GDP
    • Table 2. The structure of state expenditures in OECD countries according to functions, 2011, %