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Industry as a Dominant in the Formation of an Ukraine’s Self-Sufficient Economy

Journal: Quarterly Scientific Journal "Economic Herald of the Donbas" (Vol.62, No. 4)

Publication Date:

Authors : ;

Page : 30-37

Keywords : country's economy; self-sufficient economy; industry; mechanical engineering; development dominant; industrial revolutions; progressive technologies; high-tech industries.;

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For millennia, the traditional ancient, slave-owning, feudal economy was formed and developed at a slow pace, the basis of which was agricultural production, and handicraft (the predecessor of industry), services were insignificant in terms of their volumes, but their growth rates outstripped the growth rates of the agricultural sector, which reflects the Clarke model. In the industrial era, industry becomes the dominant sector of the economy, reaching a maximum in terms of its share in the economy of developed countries and the world by the middle of the 20th century as a result of predominantly extensive development, the I-II industrial revolutions, and the transformation of science into a direct productive force. In the II half of the twentieth century the development of industry goes on the path of intensive qualitative transformations (the third industrial revolution), and at the beginning of the twenty-first century developed countries entered the processes of the IV industrial (production) revolution, the development of scientific achievements, V, VI technological orders. The growth rates of the economy are accelerating, the share of industry in the economy is decreasing in relative terms, but in absolute terms, the growth of industry remains, despite the prevalence of the service sector in the modern economy (more than 60% in the world economy, more than 80% in the US economy). However, the basic industry, the dominant feature of the development of self-sufficient countries, remains industry, mechanical engineering, effectively mastering the scientific and technological achievements of IV IR, V, VI TO, ICT, digitalization. Research has proven the futility of the transition to a modern economy through the total destruction of industry, as is the case in post-socialist countries and in Ukraine. The expediency of restructuring the industry through the modernization of mechanical engineering is substantiated, which will ensure the restoration of the economy as a whole, its self-sufficiency, equal participation in the international division of labour and cooperation, entry and development as part of unions, associations of regional and international levels. Work on the development of the economy, the achievement of self-sufficiency of the state and society should be accompanied by an increase in the spirituality of a person as a spiritual-bio-social subject, collectives, civil society and its institutions.

Last modified: 2021-05-05 17:25:23