Reproductive Approach in Analysis of Macroeconomic Imbalance in Conditions of Economic Growth

Автори:
Страници: 107-113

Резюме:

The article is devoted to generalizing the main views of scientists on the causes of macroeconomic imbalances in conditions of economic growth based on the reproductive approach. It is established that it envisages explaining the processes of production and circulation as a cycle of production and sale of social product, which is a prerequisite for further resumption of production – reproduction. This approach allows us to find answers to questions regarding proportions that should be formed and maintained in the economy so that the flow of all goods produced by society corresponds to the counterflow of income, that is, under what conditions the volume and structure of the means of labour offered for sale correspond to the volume and structure of demand for them. The approaches of economists, from representatives of classical economic theory to modern economic thought, regarding the causes of disproportionate economic processes in terms of the reproductive approach, are considered. Firstly, the reproductive approach, as a cyclical methodology, is based on the analysis of the cycle of social production, which includes various units of actual production and the sales of social products. The focus is on creating the conditions necessary to resume the production process again. Secondly, the reproductive approach as the basis of the analysis of the chain “production – distribution – exchange – consumption”. In this case, the subject of the study encompasses individual phases (or stages) of the reproduction process with production and consumption being the primary focus. Third, the emphasis of the reproductive approach, based on the theory of sales and the “production chain”, is focused on the equilibrium movement of the value of the social product. It is generalized that, according to the reproductive approach, the proportionality of economic processes requires equality between production and income, to balance which the world market is necessary and the presence on it along with developed countries of those lagging behind, as well as methods to stimulate aggregate demand, able to cover the existing supply of goods and services.

Ключови думи:

economic growth, macroeconomic imbalances, market balance, reproductive approach, reproduction of capital.

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