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Nauk. pr. NDFI 2020 (1): 5–19https://doi.org/10.33763/npndfi2020.01.005

ECONOMIC AND FINANCIAL THEORY

ESCHENKO Petro ¹

¹SESE “The Academy of Financial Management”

Economy of Ukraine in the embrace of modern Leviafan

The article is devoted to the research of socio-economic transformations in Ukraine as a result of the transition to a market model of management and analysis of the content of the current socio-economic crisis. Particular attention is paid to studying the causes of stagnation, de-industrialization and primitivization of the national economy, the formation of a labor market with cheap labor, crowding out the country to the margins of peripheral capitalism and turning it into a raw materials appendage of Western economically developed countries. The author examines the impact of globalization and financialization on the expansion of the “virtual economy” and the narrowing of the real production sector, proves that the neoliberal model of development destroys not only the economy, but also the cultural and social values of the people. The current socio-economic format of Ukraine does not allow it to fight for a “place in the sun” in the development of digital technologies and the acquisition of technological rents. The author believes that alternative radical changes in Ukraine are necessary and require, firstly, the abandonment of neoliberal theory and practice and the transition to a new economic policy that meets the requirements of the information and technological revolution, and secondly, the formation of a new social force that meets the requirements of the times and the realization of human abilities, which is possible under the conditions of a new socio-economic system in which people are put above profits. According to the author, the solution of these issues is of great theoretical and practical importance, since the future of our country depends on them.

Keywords:socio-economic crisis, business model, external debt, financial speculation, financialization, economic theory, liberal mainstream, privatization, state regulation, network economy

JEL: F02, F65, G01, H12

ESCHENKO P. . Economy of Ukraine in the embrace of modern Leviafan / P. ESCHENKO // Наукові праці НДФІ. - 2020. - № 1. - C. 5-19.

Article original in Ukrainian (pp. 5 - 19)

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