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Signs and Models of Modern Capitalism: Conclusions for Enterprises in the Period of Digitalization of the Economy

Journal: Herald of the Economic Sciences of Ukraine (Vol.43, No. 2)

Publication Date:

Authors : ;

Page : 3-15

Keywords : capitalism; signs of modern capitalism; enterprises; economic science and practice; digitalization of the economy; theories of capitalism: «state»; «people’s»; «inclusive»; a new integrated economic structure; «convergences»;

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Abstract

The theoretical and historical aspects of the development of capitalism in Europe, which is dynamically developing, creates and overcomes deep socio-economic crises, are considered. Modern capitalism has a complex structure: a «core», «periphery» and a small middle layer of «satellites». The countries of the capitalist core have «outgrown» their economic models, while the countries of the periphery have not «grown up» to the current models of the «core». It was determined that most countries are in search of more perfect models of production development, maximizing the profit of the ruling classes and elites. For this purpose, mechanisms for accelerating scientific and technological progress, new technological systems, and relevant institutes are used. Technical progress is accompanied by the loss of spirituality, the destruction of values and traditions, which significantly slows down the development of the economy and enterprises. The instability of society arises as a result of the mismatch of social, collective (group) and personal interests of the population, classes, elite groups, clans, and families. Social sciences develop under the influence of the class interests of the ruling elites. Economic science actually lags behind economic practice. Liberal theories, focused on the exclusion of the state from the economy, complicate the situation of real production and business entities. It was determined that despite systematic crises, capitalism provides a certain level of technical progress (four industrial revolutions, six technological systems), deepened the social division of labor, increased the level of labor productivity, mastered ICT, digitalization, etc. Based on the current state of science and practice, management models adequate to the theories of «inclusive capitalism», «new integral economic system», «convergence», «people's capitalism» become promising for enterprises. Their use requires deep knowledge in the field of management, planning and their carriers – initiative, persistent, responsible, self-sufficient, constantly updating their skills, professionalism. The purpose of the research is to identify the signs and characteristic features of models of modern capitalism, the formation of directions for their use by enterprises in the context of ICT, digitalization of the economy.

Last modified: 2023-08-11 17:17:28