Sustainability of Russian Economy in the Mirror of the System Economic Theory (Part 1)

Abstract

The basic principles of economic sustainability are considered in the article from a strategic perspective, from the viewpoint of the system economic theory. The article consists of two parts. In the first part the concept of the dynamics of a national economy is portrayed as a recurring cycle of four phases of development: crisis, post-crisis, inter-crisis, and pre-crisis. The movement between the stages is synchronized with the changes in the role functions (leadership, opposition, neutrality, support) of the four principal macro subsystems of the economy and the sequence of phases of the life cycle of subsystems (maturity, renovation, formation, development). We consider as the key subsystems of economy (in the wider sense of the word): economic theory, socio-economic policy, management of the economy and economic practice (real economy). A new model of the distribution of roles of subsystems at various stages of the crisis cycle of the economy is proposed, allowing, during the formation of socio-economic strategy, for the consideration of the maximum potential of each subsystem and for identifying possible regulatory levers, affecting the duration of various stages of the crisis cycle of the economy. In the second part of the article the capabilities of the system economic theory in the analysis of economic sustainability and its principal subsystems are elaborated on; and the potential impact of the four system sectors of the economy (object, project, process, environment) on the development and stabilization of the economy will be analyzed, on this basis measures are proposed to ensure system economic sustainability.