The Systems Approach in a Global Perspective: The New Economy and Reindustrialization. (3rd May 2016)

• Record Type: Journal Article
• Authors: Olga, Tikhomirova
• Is Part Of: Journal of organisational transformation & social change. Volume 13:Number 2(2016)
• Page Start: 75
• Page End: 89
• Publication Date: 2016-05-03
• Subjects: systems approach -- new economy -- reindustrialization -- new economic model -- social and economic development -- sustainable development -- balanced growth; Organizational change -- Periodicals; Social change -- Periodicals; 303.4
• DOI: 10.1080/14779633.2016.1199356
• Languages: English
• ISSNs: 1477-9633

Abstract

Abstract : The existing economic model leads developed and developing countries to a stalemate. The global financial crisis of 2008–2009 revealed the instability and fragility of the current economic model. We can observe the consequences of the crisis (and its continuation) up to the present time. The problem is worse in those economies where the real sector of the economy has been steadily declining during recent years. The great dependence of developed countries on the global financial system, and, in particular, the IMF, causes unemployment to increase, deskills the working-age population, reduces the level of social welfare and aggravates problems of social tension. As for developing countries, they face the problem of attracting investors to the real sector of the economy. The latest economic and social crisis shows the high level of interdependence and demonstrates that all national economies are a united economic system, and that sustainable development is possible only if all work together.