Capitalized economy of Russia: theory and practice

• Journal: Global Academic Society Journal: Social Science Insight, Vol. 2, No. 8, year 2009, pp. 4-23.
• Author(s): Andrei Kolosovsky
• Category: Social Science Insight III
• Keywords: global general capital, human capital, universal capitalist economy, global marketing

Abstract

The present global financial crisis has identified problems of the theory and practice of an economy. One of such problems, from the point of view of the global general capital, is the out-of-date tradition of representing factors of production that does not reflect a real state of affairs anymore; this harms both: development of economy, and science progress. This problem is evidenced through the overestimation of the role of financial capital and obvious underestimation of the role of human capital in the development of modern economy. This leads to the situation that now the mechanisms that are developed by the global community with the aim to combat financial crisis, monetary instruments dominate over the others. On the other hand, underestimation of human capital from the methodological point of view is fraught of gnoseological problems in the studies of human's role in the economy development; meanwhile, from the practical point of view, it leads to loss of labour motivation, depopulation, social tense and other phenomena that take place in modern Russia. Therefore the present article aims to rethink the role and to bring new light on traditional views regarding the resources that are used by mankind to satisfy its needs.
The article overviews process of development of global capitalist economy, and its permanent capitalization. The further presented concept of the general capital is based on paradigm of economic society that builds on the theory of generality of a universal capitalist economy. Income from all types of the general capital is interest on capital. The article overviews the structure of the general capital in Russia, and discusses the reasons and consequences of this structure. The author offers mechanism for improving reproduction of human capital in Russia.