THE ECONOMIC CRISIS OF 2020 AND THE SIXTH TECHNOLOGICAL ORDER: INTERCONNECTION AND PATTERNS

Abstract

It is justified that the economic crisis is cyclical and is associated with a change in technological paradigm. The economic crisis is a process characterized by fluctuations in economic activity and it manifests itself in economic, social, environmental and political disruptions. In the sixth technological paradigm, economic growth ensured by the introduction of fundamentally new forms of combining tools and labor items that can ensure the maximum productivity in use of resources. The “core” of the sixth technological paradigm is alternative and nuclear energy, healthcare, education, aviation-, ship- and machine tool engineering, electrical engineering, telecommunications, etc., and “key factors” – information and communication technologies, biotechnology, nanotechnology. The formation of the sixth technological paradigm significantly transforms the structure of productive forces and the system of industrial relations, it change the product and the process of its advancement in various areas: health, education, energy, public services, etc. As a result, the quality characteristics of services and goods are significantly changed, as well as, the level of accessibility to material and intangible benefits of all groups of the population is increased. In this regard, effectiveness of inclusive initiatives requires the consolidation of the efforts of civil society, the State and business, the reform of the education system and the creation of conditions for increasing the level of motivation and social responsibility of society.