Rethinking of the Concept of Economic Systems Balance through Analysis of Disproportions of Economic Growth in the Global Economy
Rethinking of the Concept of Economic Systems Balance through Analysis of Disproportions of Economic Growth in the Global Economy

Summary/Abstract: The purpose of the article is to verify the offered hypothesis and substantiate the necessity for rethinking of the concept of balance of economic systems through analysis of disproportions of economic growth in the global economy. This purpose is achieved with the methods of induction, deduction, synthesis, formalization, and systemic, structural, and problem analysis. The authors determine the sense of current concept of balance of economic systems, conduct analysis of disproportions of economic growth in modern global economy, substantiate necessity for rethinking of the concept of balance of economic systems, and offer new approach to treatment of the concept of balance of economic systems. As a result of the research, the authors come to the conclusion that concept of balance of economic systems in its modern understanding is not applicable to analysis of the global economic system. The authors develop a new formula of balance of the global economic system and provide practical examples of such balance for 100 recent years.

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