Global Challenges of the Modern Paradigm of Economic Development

Abstract

Research background : The basis of the long-term sustainable movement of society forward is the paradigm of economic development as a set of scientific achievements, which for a certain period of time are recognized as the basis for the development of scientific and practical activities of the society. The paradigm of market relations is increasingly unable to solve vital problems for society and the economy, such as growing social stratification of the population, an increase in anthropogenic pollution of the biosphere, disruption of the normal functioning of ecosystems and a number of other equally important problems on a global scale. Purpose of the article: The goal set by the authors is to conduct a study of the sustainability of the modern paradigm of economic development in the face of global challenges. Methods: The authors carried out a systematic analysis of economic development in the face of global challenges. A new look at the relationship “global challenges - global actions” is proposed. Findings & Value added: The article presents the author’s view on the manifestations of the crisis of the modern development paradigm, based on the correlation of global challenges and global actions.