Aleksandr Shimakov
Candidate of Economics (PhD), Associate Professor, Novosibirsk State Technical University, Novosibirsk, Russia

TERRA ECONOMICUS, 2015, Vol. 13 (no. 4),

p. 96-131
DOI: 10.18522/2073-6606-2015-4-96-131

J. Meynstring began one of his speeches (Oklahoma, 1929) with the outstanding words: «Do you think that economics is a dismal science? You just haven’t learnt chemistry!» To continue the great Californian economist’s traditions, I introduce you a course of popular science lectures of economics, which I have given in Novosibirsk in last ten years. The fourth lecture is devoted to the consideration of economic view about human behavior. The lecture is an attempt of synthesis of neoclassic, institutional, behavioral and neuro-economics achievements. You will learn how our brain makes decisions. You will understand if it is reasonably to rely on intuition. You will get a view about the methods of economic behavior manipulation. You will recognize the secret of “the beautiful”. You will understand why it is profitable to sell tires with a car and an apartment with furniture. You will know why we appreciate what we have, and why the membership card to the swimming pool makes us swim during the cold. You will know how to reduce wages invisibly and how to divert somebody’s attention from high prices. You will understand why we inclined to put it off to tomorrow, to lose all our money in casino and to take unfavorable loans. Finally you will realize if we make our decision by ourselves or someone makes it for us.

Ezra Davar
PhD in Economics, Independent Researcher, Netanya, Israel

TERRA ECONOMICUS, 2015, Vol. 13 (no. 4),

p. 83-95
DOI: 10.18522/2073-6606-2015-4-83-95

This paper shows that among the crucial reasons of the modern microeconomic theory’s irrelevance to reality is the fact that, unfortunately, it has not been developed since Walras. This paper reveals several crucial differences between Walrasian and post-Walrasian approaches to microeconomic theory: 1. Walras’ economic theory is characterized by the evolutionary approach, as it is generally compatible to the human society’s development; 2. According to Walras’ approach, the demand and supply of goods and services are obtained directly from the solution of models. In the postWalrasian economists’ approach the final endowment is directly determined, which prevent discussing employment-unemployment problem in the macro level. 3. Walras’ economy is a decentralized economy, which is opposite to the modern general equilibrium theory where the economy is a centralized; and in Walrasian approach each individual is a «price maker»; whilst the post-Walrasian approach, especially the modern approach, views individual rather as a «price taker». 4. Walras used two categories of money: first, the money as commodity numéraire (measure of value) and its price; and second, money (in circulation and for saving) and its price as the rate of interest. Post-Walrasian economists generally considered only fiat money in circulation. 5. According to Walras’ micro model for individuals, the budget constraint equation relates to the numéraire (the money as a commodity). Within the post-Walrasian economists’ approach, the budget constraint equation relates to the income (or wealth) which is generally given.

Yulia Razvadovskaya
Candidate of Economics (PhD), Senior Staff Researcher, Southern Federal University, Rostov-on-Don, Russia

Inna Shevchenko
Doctor of Economics (DSc), Leading Researcher, Southern Federal University, Rostov-on-Don, Russia

Marina Grezina
Candidate of Economics (PhD), Associate Professor, Southern Federal University, Rostov-on-Don, Russia

TERRA ECONOMICUS, 2015, Vol. 13 (no. 4),

p. 65-82
DOI: 10.18522/2073-6606-2015-4-65-82

Current studies on model analysis of the relationship between innovation and the growth of industry in developing countries at the macro- and micro-levels to date have shown that there are two methods of the development of innovation systems. The first method involves international technology transfer, including the strategy of borrowing new technologies through importation of innovative technologies. The second method involves fostering of the domestic innovation, scientific and technological potential, which is an important factor in the development and growth of the economy, especially when the country is at the technological frontier. However, these studies in the field of analysis of the development of businesses & industries, and modeling effective ways of their development do not consider the specifics of the innovative business strategies, accordingly, do not cover the problem of mathematical modeling of the impact of economic conditions on performance indicators of enterprises, which are using different innovative strategies. This article analyzes the impact of concentration of the industry, state support, foreign direct investment and learning abilities of the staff on the companies, which either import innovative technologies or produce their own new technologies in the field of ICT. The analysis of the significance of these factors for companies utilizing different innovative business strategies was based on Pearson correlation coefficients. This article attempts to analyze the process of technological development in the developing countries by assessing the impact of internal and external factors on the companies, utilizing strategies of borrowing/importation of innovative technologies or producing them, based on the analysis and modeling of statistical data of the ICT industry. The analysis showed that most of the companies in the industry are using the strategy of borrowing/importation of new technologies. The key factors affecting the companies that utilize this strategy include the level of concentration of the industry, the amount of foreign direct investment and state support. The findings led to a number of conclusions about the effectiveness of the state management of the development of industry sectors.

Vyacheslav Volchik
Doctor of Economics (DSc), Professor, Southern Federal University, Rostov-on-Don, Russia

TERRA ECONOMICUS, 2015, Vol. 13 (no. 4),

p. 52-64
DOI: 10.18522/2073-6606-2015-4-52-64

In social sciences, interdisciplinary research is of increasing importance in the context of two economic crises – a crisis in economy in a crisis in economics. However, economic theory had historically expanded into allied social sciences by pursuing an agenda of economic imperialism. Economic imperialism may be seen as an attempt to monopolize the ideals and criteria of scientificity which had been shaped starting second half of XX century within the mainstream tradition. Dominance of the economic imperialism paradoxically has resulted in shrinking of the subject area of economic theory. Formalism and behavioral models of rational choice which are transferred by the economists to other social sciences, prevent investigation of complex adaptive systems and non-ergodic social processes. Adherence to the «ideals of scientificity» within the economic mainstream results in reductionism and unjustifiable simplification of the theoretical framework, compared to the real economic and social processes. Economic pluralism can be an alternative to economic imperialism. Economic pluralism is mainly associated with the heterodox approaches in social sciences. The key role of criticisms is recognized within these approaches, as well as the importance of a deliberative process between different approaches in social sciences. Interdisciplinarity is seen as one of the challenges in context of evolution of modern society. Interdisciplinary research complements social sciences and expands its frontiers, taking into account evolutionary nature of social development. Success of interdisciplinary research programs depends largely on integration of research and university education. If applied to the real economic processes, theories and methods of other social sciences help gain a better understanding of complex non-ergodic processes.

Evgeny Balatsky
Doctor of Economics (DSc), Professor, Director of Macroeconomic Research Center, Financial University under the Government of Russian Federation, Leading Staff Scientist at Central Economics and Mathematics Institute of Russian Academy of Sciences (CEMI RAS), Moscow, Russia

Natalia Ekimova
Candidate of Economics (PhD), Associate Professor, Leading Staff Scientist at Financial University under the Government of Russian Federation, Moscow, Russia

TERRA ECONOMICUS, 2015, Vol. 13 (no. 4),

p. 31-51
DOI: 10.18522/2073-6606-2015-4-31-51

The article proposes an alternative measure of efficiency of institutions – the base index of institutional development (BIID). The need for developing this kind of indicator is due to the subjectivity and political bias of most Western tools to measure the quality of institutions and low level of trust of the expert community to this measure. A distinctive feature of the developed index is that it is based solely on objective data that can be easily double-checked by the expert community. In the basis of BIID on the ideology of the two polar sides of institutions – they provide guarantees and freedoms. Simultaneously, all institutions are divided into three large groups: social, economic, political. Testing of the BIID in national and international contexts is carried out. The international dimension presupposes ranking BIID for a sample of eight countries in the world – the USA, Germany, UK, Belarus, Ukraine, Kyrgyzstan, Armenia and Russia. The calculations have allowed to establish the existence of the European (continental) and Atlantic (Anglo-Saxon) models of institution building. It is shown that at first all the transition countries provide solid institutional guarantee and only then begin to bring about institutional freedoms. A retrospective analysis of the Russian BEER showed that over the past 15 years the major advances the country had made are related with political stability improving, while the main problem area of the previous period of development has been the enslavement of economic institutions.

Sergey Pyastolov
Doctor of Economics (DSc), professor, Senior Research Fellow, INION RAS, Moscow, Russia

TERRA ECONOMICUS, 2015, Vol. 13 (no. 4),

p. 17-30
DOI: 10.18522/2073-6606-2015-4-17-30

The paper discusses the modern phenomena occurring in socio-economicecological spheres of the Earth which are interpreted by various schools of thought as «a geological era of Anthropocene», «colonisation of the Earth’s ecosystem», «market environmentalism», «ecological modernization of capitalism». Within the limits of a paradigm of political ecology (PE) under formation where policy and power have already become the research objects, the concept of «ecological modernization» (EM) is dominating, although it hides behind the «utilitarian» and «romantic» pseudo-dichotomy the real reasons of conflicts of the interests underlying global ecological crisis. The analysis of processes of formation of the PE paradigm has allowed to highlight the key element of the EM concept which, by the author’s opinion, is the concept of alienation newly discovered in works of modern Marxists where it usually accompanies the concept of «the new neoliberal nature of capital». Alienation as a phenomenon which reveals itself at various levels. It shows an epistemological character in academic sphere which is caused by narrow specialization in a vast number of directions of modern medical, biological, economic, sociological, ecological and other types of research. The problem of overcoming of such an alienation could be solved with the help of transdisciplinary research and commonly accepted approaches to the «life tree». In ecological, social and economic spheres the phenomenon under consideration reveals itself in the form of alienation of people from their living places, and also alienation of special zones («zones of sacrifice») and other elements of planetary ecological system that is caused by the nature of capital. The author argues that it is necessary to recognize policy, power and ecology to be parts of the same «world – convention». Overcoming of existing alienation should be recognized as an essential problem of a healthy minded community, and these processes should start from an open declaration of values.

Oktay MAMEDOV
Doctor of Economics (DSc), Professor, Head of the Department of Political Economy and Economic Policy, Southern Federal University, Rostov-on-Don, Russia

TERRA ECONOMICUS, 2015, Vol. 13 (no. 4),

p. 6-16
DOI: 10.18522/2073-6606-2015-4-6-16

Classic works in economics are always modern and relevant. The article shows the aspects of the famous Marx’s work which, previously remained on the periphery of the analysts’ attention, has now reached the top of the agenda and become increasingly important for the economy of post-Soviet Russia. The author focuses on the features of the phenomenon of alienation in a transforming society. The article deals first with the conceptual characteristics of the phenomenon of alienation, then – its subject predetermination, further – alienation as the contextual meaning of the «Critique of the Gotha Program», and, finally, – characteristics of the forms of alienation predicted by K. Marx. These forms, according to the author’s opinion, have been implemented in the post-Soviet economy. There are a number of interdisciplinary issues of discursive character raised by the author in the article to grasp attention of the scientific community. The author concludes that the category of «alienation» has become fashionable. It is unlikely to be seen as a pure accident, since the merit of this category is its ability to absorb and reflect almost all the features of the modern society: social disjunctions, devastating loneliness, ruining crisis. Figuratively, modern alienation was defined only by Heidegger, inter alia, – in one word: «homelessness» as the fate of individual in the social world. This definition refers to the modern interpretation of existentialism. But even more homelessness characterize the «Gothic» society as the intermediate stage between capitalism and socialism: homeless (and therefore alienated) economy, homeless (and therefore alienated) policy, homeless (and therefore alienated) science and education. Actually, the entire «Gothic» period of a society existence is the period of the «homeless» alienation…