Over-accumulation of Capital as the Basis of Crises in the USA, Russia and the World

2020 ◽  
Vol 2020 (4) ◽  
pp. 3-26
Author(s):  
Aleksandr Sorokin ◽  
Ivan Tenyakov
Keyword(s):  
Capital Accumulation ◽  
Large Scale ◽  
Rate Of Return ◽  
Sharp Drop ◽  
Theoretical Understanding ◽  
Us Economy ◽  
Russian Economy ◽  
The Usa ◽  
World Economic ◽  
Rate Of Profit

The article provides a theoretical understanding of crisis as a manifestation of capital accumulation. The process of over-accumulation in the precrisis period becomes visible in a particular dynamics of interrelated indicators - growth of investments, employment, wages, and reduction in unemployment. Two options: (1) if investments grow faster than employment, this is an evidence of a large-scale impending crisis, (2) if at a similar or slower pace, then this is an evidence of a smaller scale of the crisis. Over-accumulation results in crisis as a sharp drop in the general rate of profit. Overcoming the crisis and restoring the values of the general rate of profit is accompanied by the depreciation of accumulated capital, reduction in investment, increase in unemployment, and drop in wages. The authors introduce the indicator of macroeconomic rate of return, an exoteric estimate of Marx’s general rate of profit, and present the calculation of macroeconomic rate of return in the US economy for the period of 1929-2018 and the Russian economy for the period of 1995-2018. The paper shows that the theory of crisis is confirmed by the statistics of world economic crises of the past three decades, US statistics for 1929-1970 and statistics of the Russian economy.

scholarly journals Fundamental factors of techno-economic cyclicity

2021 ◽  
pp. 63-77
Author(s):  
Oleg O. Komolov ◽  
◽  
Daler B. Dzhabborov ◽  
Keyword(s):  
New Technologies ◽  
Average Rate ◽  
New Technology ◽  
Rate Of Return ◽  
Economic Relations ◽  
Us Economy ◽  
Stock Market Bubbles ◽  
Return On Capital ◽  
National Leaders ◽  
Rate Of Profit

The paper examines the phenomenon of stages in technical and economic development in the context of the theory of technological paradigm. On the basis of a critical rethinking of the approaches of Dosi, Perez, Glazyev et al., the marxist tendency of the rate of profit to fall, as well as an empirical analysis of the US economy, the authors built an econometric model that makes it possible to determine the factors that affect both the change of technological structures themselves and their phases. The incentive that pushes capital to the path of investment in new technologies is the dynamics of the rate of return, which tends to decline and stagnate at this stage. After the new technology was mastered by national producers, and the concentration of capital created national leaders with sufficient competitiveness. foreign economic relations between countries are intensifying, which expresses competition for the development of new markets. The growing rate of return is pushing investors to capitalize on it in the form of further investment in industries where new technology can increase the return on capital. At the same time, this creates the prerequisites for overaccumulation, which is expressed in a gradual drop in the marginal profitability in production, which directs capital to the financial sector. The financialization of the economy and the formation of stock market bubbles are taking place. After their collapse, the economy enters the stage of a fall in the average rate of profit, which again starts the process of searching for a new revolutionary technology that can ensure an increase in labor productivity. The research results make it possible to more fully explain the reasons for the change in the phases of technological orders, as well as predict these processes.

Analasys of FDI Flow in Russian Economy Taking into Account Some Global Trends

2021 ◽  
Vol 144 (5) ◽  
pp. 96-101
Author(s):  
Viktor Yu. Tatuzov ◽  
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Large Scale ◽  
Long Waves ◽  
Value Chains ◽  
Economic Crises ◽  
Global Trends ◽  
Russian Economy ◽  
The World ◽  
World Economic

The author suggests a non-customary approach to the study and forecasting of the Foreign Direct Investment (FDI) and the Global Value Chains (GVC) — within the modern framework of Kondratieff long waves hypothesis. Taking into account long waves (about 40 years), in 2009 the author warned about the possible economic crises in Russia in 2014–2015,2020 and such crises actually happened. There were three economic crises in Russia — 40 years after the world economic crises of 1969, 1974–1975 and 1980. The question is raised about the large-scale spread of COVID-19. Also the author concludes that it is necessary to continue studying long waves approach with the aim of its use in forecasting.

scholarly journals From pandemic crisis to Rational Localization and optimal Logistics of Development

2021 ◽  
Vol 129 ◽  
pp. 11006
Author(s):  
Anna Vladimirovna Kurbatova ◽  
Ekaterina Sergeevna Kurbatova ◽  
Jozef Majercak ◽  
Natalia Petrovna Tereshina
Keyword(s):  
Russian Federation ◽  
Scientific Method ◽  
Large Scale ◽  
Value Added ◽  
Current Position ◽  
Large Scale Systems ◽  
Russian Economy ◽  
The World ◽  
World Economic ◽  
The Russian Federation

Research background: The aim of the scientific contribution is to analyze the current position of the Russian economy in the context of other countries. The article consists of a deduction of the current position of the Russian Federation and the subsequent proposal to continue the fight against the COVID-19 crisis. Purpose of the article: Using the analysis of available sources of scientific research, the analysis of the current position of the Russian economy in the context of other countries. The paper offers basic recommended goals for further progress in the time of a pandemic. Methods: The coronavirus pandemic has turned the world into a new reality. It showed the weaknesses and strengths of states, their constitutional structures, economic and social models. The post-pandemic world will be different, significantly different from the current one. And this pandemic will not be an exception, but will become one of a series of past and future world problems. And the world must be prepared to meet them. It is necessary to learn how to manage the development of large-scale systems at various levels from internal regions, states and to the world economic and political system as a whole. States must learn how to manage in a critical situation so as not to expose their peoples to significant disasters, much less extinction. They should establish mechanisms to predict and combat undesirable hazards. Using the scientific method of analysis of available resources, the authors analyzed the current position of the Russian Federation in relation to selected economies of the world. By synthesizing the knowledge and subsequent deduction, the authors propose further recommendations and steps in the time of the COVID-19 crisis. Findings & Value added: The pandemic that led the world to a crisis of health and survival, economy and trust has shown how much the world needs to be improved. At the same time, it clearly showed what strategic directions Russia needs to move in order to save its people, its territory, and strengthen itself in the top three world economic leaders. And if the strategies are clear, and the tasks are defined, then the matter remains only for their implementation.

Russia’s fiscal stimulus and fiscal sustainability

2013 ◽  
pp. 90-108 ◽  
Author(s):  
N. Akindinova ◽  
N. Kondrashov ◽  
A. Cherniavsky
Keyword(s):  
Government Spending ◽  
Public Expenditure ◽  
Oil Prices ◽  
Fiscal Sustainability ◽  
Macroeconomic Model ◽  
Sharp Drop ◽  
Fiscal Stimulus ◽  
Fiscal Multipliers ◽  
Russian Economy ◽  
The Impact

This study examines the impact of public expenditure on economic growth in Russia. Fiscal multipliers for various items of government spending are calculated by means of our macroeconomic model of the Russian economy. Resources for fiscal stimulus and optimization are analyzed. In this study we assess Russia’s fiscal sustainability in conditions of various levels of oil prices. We conclude that fiscal stimulus is ineffective in Russia, while fiscal sustainability in conditions of a sharp drop in oil prices is relatively low.

The world and Russia: Inflation is minimal, economic growth is slowing, risks are rising

2019 ◽  
pp. 5-23 ◽  
Author(s):  
Mikhail V. Ershov ◽  
Anna S. Tanasova
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
World Economy ◽  
Domestic Demand ◽  
New Combination ◽  
Russian Economy ◽  
The World ◽  
World Economic ◽  
Money Creation ◽  
Main Factors

Russian economy has reached the low level of inflation, but economic growth has not accelerated. Moreover, according to official forecasts, in the following years it will still be low. The article concludes that domestic demand, which is one of the main factors of growth, is significantly constrained by monetary, budgetary and fiscal spheres. The situation in the Russian economy is still hampered by the decline of the world economic growth. The prospects of financial markets are highly uncertain. This increases the possibility of crisis in the world. Leading countries widely use non-traditional measures to support their economies in the similar environment. In the world economy as well as in Russia a principally new combination of factors has emerged, which create specific features of economic growth. It requires special set of measures to stimulate such growth. The article proves that Russian regulators have large unused potential to stimulate growth. It includes monetization, long-money creation, budget and tax stimuli. It is important that the instruments, which will be used, should be based on domestic mechanisms. This will strengthen financial basis of the economy and may encourage economic growth. Some specific suggestions as to their use are made.

Development of Social and Economic Forecasting and Ideas of A. Anchishkin

2013 ◽  
pp. 143-155
Author(s):  
A. Klepach ◽  
G. Kuranov
Keyword(s):  
Economic Planning ◽  
Special Role ◽  
Economic Management ◽  
Economic Forecasting ◽  
Russian Economy ◽  
World Economic ◽  
Long Term Forecasting ◽  
Working Out

The role of the prominent Soviet economist, academician A. Anchishkin (1933—1987), whose 80th birth anniversary we celebrate this year, in the development of ideas and formation of economic forecasting in the country at the time when the directive planning acted as a leading tool of economic management is explored in the article. Besides, Anchishkin’s special role is noted in developing a comprehensive program of scientific and technical progress, an information basis for working out long-term forecasts of the country’s development, moreover, his contribution to the creation of long-term forecasting methodology and improvement of the statistical basis for economic analysis and economic planning. The authors show that social and economic forecasting in the period after 1991, which has undertaken a number of functions of economic planning, has largely relied on further development of Anchishkin’s ideas, at the same time responding to new challenges for the Russian economy development during its entry into the world economic system.

Digital tax: an instructive foreign experience

2020 ◽  
pp. 69-87
Author(s):  
K.S. Teteryatnikov ◽  
S.G. Каmolov ◽  
D.A. Blashkina
Keyword(s):  
Russian Federation ◽  
High Tech ◽  
Digital Products ◽  
Tax Reforms ◽  
Goods And Services ◽  
Russian Economy ◽  
Internet Users ◽  
The Usa ◽  
On Line ◽  
The Russian Federation

The article is meant to analyze current problems and prospects for the development of effective tax policy as part of digital transformation of Russian economy. Introduction of a digital tax and the consequences of the digital tax reforms in the EU, the USA and OECD countries are highlighted. The necessity of qualitative transformation of the tax system of the Russian Federation in response to modern challenges is substantiated, taking into account the changes of the Tax Code of the Russian Federation adopted at the end of July 2020. The authors suggested their own concept of a digital tax and the prospects for its adoption in Russia, and consider it inappropriate to impose taxes on Internet users who do not use the Internet for business. Today, the main focus should be made on creating and testing effective technologies that allow on-line monitoring the tax basis of digital economy entities, taking into account the cross-border movement or use of digital products (goods and services). In addition, it would be extremely important to provide for a potential tax exemption for part of the profits of international ICT companies that are received on the territory of the Russian Federation and reinvested in joint with Russian companies projects in the high-tech for civil purposes area.

scholarly journals Correcting Citizens’ Misperceptions about non-Western Immigrants: Corrective Information, Interpretations, and Policy Opinions

2020 ◽  
pp. 1-10 ◽  
Author(s):  
Frederik Juhl Jørgensen ◽  
Mathias Osmundsen
Keyword(s):  
Immigration Policy ◽  
Large Scale ◽  
Total Population ◽  
Survey Experiment ◽  
Correct Information ◽  
The Usa ◽  
Large Scale Survey ◽  
Nationally Representative ◽  
Information Change ◽  
Corrective Information

Abstract Can corrective information change citizens’ misperceptions about immigrants and subsequently lead to favorable immigration opinions? While prior studies from the USA document how corrections about the size of minority populations fail to change citizens’ immigration-related opinions, they do not examine how other facts that speak to immigrants’ cultural or economic dependency rates can influence immigration policy opinions. To extend earlier work, we conducted a large-scale survey experiment fielded to a nationally representative sample of Danes. We randomly expose participants to information about non-Western immigrants’ (1) welfare dependency rate, (2) crime rate, and (3) proportion of the total population. We find that participants update their factual beliefs in light of correct information, but reinterpret the information in a highly selective fashion, ultimately failing to change their policy preferences.

scholarly journals The utility of self-rated health in population surveys: the role of bodyweight

2021 ◽  
Vol 19 (1) ◽  
Author(s):  
Robert Bozick
Keyword(s):  
Treatment Group ◽  
Large Scale ◽  
Well Being ◽  
Control Group ◽  
Self Rated Health ◽  
Risk Of Mortality ◽  
Highly Sensitive ◽  
The Usa ◽  
Group Members ◽  
Nationally Representative

Abstract Background Self-rated health (SRH) is one of the most commonly used summary measures of overall health and well-being available to population scientists due to its ease of administration in large-scale surveys and to its efficacy in predicting mortality. This paper assesses the extent to which SRH is affected by its placement before or after questions about bodyweight on a survey, and whether differences in placement on the questionnaire affects SRH’s predictive validity. Methods I assessed the validity of SRH in predicting the risk of mortality by comparing outcomes of sample members who were asked to rate their health before reporting on their bodyweight (the control group) and sample members who were asked to rate their health after reporting on their bodyweight (the treatment group). Both the control and treatment group were randomly assigned via an experiment administered as a module in a nationally representative sample of adults in the USA in 2019 (N = 2523). Results The odds of reporting a more favorable appraisal of health are 30% lower for sample members who were in the treatment group when compared with the control group. Additionally, the SRH of treatment group members is significantly associated with their risk of mortality, while the SRH of control group members is not. Conclusion The findings from this study suggest that for researchers to maximize the utility of SRH, closer attention needs to be paid to the context of the survey within which it asked. SRH is highly sensitive to the questions that precede it, and this sensitivity may in turn mischaracterize the true health of the population that the survey is intending to measure.

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