- PII
- S0321-50750000616-3-1
- DOI
- 10.31857/S50000616-3-1
- Publication type
- Article
- Status
- Published
- Authors
- Volume/ Edition
- Volume / Issue №10
- Pages
- 27-34
- Abstract
- The article, based on a series of computations and models, shows that, despite considerable progress achieved during the last decades in the centers and (semi)periphery of the global economy in capital formation, technologies and innovations, a long-term slowdown occurred in dynamics of their GDP and productivity. The author argues that this paradoxical phenomenon was largely caused by massive distortions in the global economy, engendered by its excessive financialization, significant and nearly general increase in indebtedness and levels of income inequalities. Although some reallocation of incomes from super-rich to less well-to-do via progressive changes in taxation systems could promote growth of human capital and effective demand, this reform in developed and developing countries is hard to enact due to resistance of the mighty oligarchic elites.
- Keywords
- global economy, developed and developing countries, the economic slowdown, physical and human capital, information technology, debt, inequality
- Date of publication
- 01.10.2016
- Number of purchasers
- 1
- Views
- 1323