Sustainability of Russian economy in the mirror of the system economic theory (Part 2)

In: Voprosy ėkonomiki: ežemesjačnyj žurnal, Issue 1, p. 117-138

Abstract

This article is the second part of the paper published in the previous issue of the journal. In the first part of the article we presented the basic problem of economic sustainability in the strategic perspective, from the viewpoint of the system economic theory. In the second part of the article we discuss the capabilities of this theory as a tool for analyzing the sustainability of the economy and its principal subsystems. We explore the potential of the four system sectors of the economy (object, project, process and environment) for stimulating its development and stabilization. A model for the distribution of role functions of the system sectors of the economy at various stages of the crisis cycle is proposed, ensuring the balanced development of the economy. The special role of its object sector as an active subsystem supporting the stability and diversification in the economy is explained. The multilayer structure of economic subjects is considered as the framework of the national economy, the development of which is especially important during the crisis and post-crisis stages of the crisis cycle. Therefore, the need to strengthen the subject framework of the economy is highlighted, paying particular attention to industries as the subjects of mesoeconomy. On the basis of that, reforms in the organization of government and management are suggested, and recommendations are formulated on the major principles of economic policy regarding the sustainability of the national economy.