Features and prospects for reforming modern economic theory

V. V. Biryukov

Omsk Humanitarian Academy, Omsk, Russian Federation

Features and prospects for reforming modern economic theory

Abstract: The article deals with issues that are related to the search for new approaches to the analysis of the modern
economy, allowing for the resolution of the contradictions that have accumulated in the depths of economic science. The
purpose of the article is to determine the features of current trends and prospects for reforming modern economic theory
in accordance with changing realities. The methodological basis of the study was the constructivist approach used in the
social sciences, which makes it possible to study the economy on the basis of post-structuralist logic. The author shows that
competing research approaches are created within the framework of a common paradigm and involve the construction of
structuralist versions of theoretical descriptions that interpret the exogenous influence of social factors on the economic
behavior of subjects. At the same time, the unorthodox approach provides for the consideration of processes occurring at three main levels of economic reality: deep, average, and empirical, while in the mainstream approach, only at the average
and empirical levels. The modern wave of changes in the development of economic theory, associated with the use of
interdisciplinary methods of studying the economy and the awareness of the limitations of the theories of the economic
mainstream is characterized by reaching a new level of understanding the complexity of the modern economy, it is proposed
to use a constructivist approach that is interdisciplinary in its status, which allows, based on post-structuralist logic, to
analyze the endogenous mechanisms for the formation of institutional ties formed on its three levels of economic reality.
In this regard, it becomes possible to meaningfully interpret the successes and failures that arise in the implementation of
reforms in national economies.

Keywords: economic methodology, institutional economics; behavioral economics, interdisciplinarity

Paper submitted: August 21, 2023.

For citation: Biryukov V. V. (2024) Features and prospects for reforming modern economic theory. Russian Journal
of Social Sciences and Humanities, vol. 18, no. 1, pp. 182–189. DOI: 10.57015/issn1998-5320.2024.18.1.17.

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