Network economy as a socio-economic model

The paper analyzes fundamental changes in the economy that take place nowadays as a result of digitalization and globalization of economic relations. The research hypothesis of the paper is a suggestion of the crucial role of transformation processes which can be compared to the Industrial Revolution. The research methods are: historical analysis, institutional analysis as well as systems analysis. The author tries to separate technological, economic and institutional dimensions of economic development. These dimensions center around such concepts as “type of the economy” (technological dimension), “socio-economic model” (economic dimension) and “mode of production” (institutional dimension). The author shows that the industrial type of economy corresponds to the market economic system that can develop under different modes of production — capitalism and statism. Likewise, the digital type of economy corresponds to the network economic system, the basis features being division of labour, direct long-term cooperation and information links between economic agents, trust-based relationships and interdependence. Special emphasis is made on transformation of basic institutions of the market economy as well as transition to the network economy. The author shows that such basic laws of the market economy as pricing, distribution of economic surplus and control over economic activity are no longer valid.

Keywords

network economy, digital economy, digital revolution, type of economy, economy system, production way, institute of value, institute of power.

Received

27.02.2022

Publication date

18.03.2022

Number of characters

30929

Cite

GOST	Ustyuzhanina E. Network economy as a socio-economic model // Ekonomika i matematicheskie metody – 2022. – V. 58. – Issue 1 C. 27-37 [Electronic resource]. URL: https://emm.jes.su/S042473880018967-2-1 (circulation date: 03.05.2024). DOI: 10.31857/S042473880018967-2
MLA	Ustyuzhanina, Elena "Network economy as a socio-economic model." Ekonomika i matematicheskie metody 58.1 (2022):27-37. DOI: 10.31857/S042473880018967-2
APA	Ustyuzhanina E. (2022). Network economy as a socio-economic model. Ekonomika i matematicheskie metody 58(1), pp.27-37 DOI: 10.31857/S042473880018967-2

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