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Noonomics: The conceptual basis of the new development paradigm

Author

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  • Bodrunov S.Y.

    (Witte Institute for New Industrial Development)

Abstract

The paper elaborates on the conceptual basis of noonomics as a qualitatively new phenomenon of new industrial society of the second generation (NIS.2). The author reveals the contradictions of the world socioeconomic system on the verge of the fourth industrial revolution and emphasises the necessity to reconsider and develop essentially different fundamental principles of implementation of the state economic policy. On the basis of the evolutionary theory, the author proves that emergence of new technologies does not evidence the transition to services society, but weights in favour of the necessity of reindustrialization on a qualitatively new technological base, and this requires the domination of knowledge over material factors in all production economic processes. Empirical data suggest that investments in Russia’s knowledge-based economy are lower than worldwide. The paper presents the directions for reforming the system of economic relations and a definition of noonomics as the basic element of the new conceptual platform. The research findings can be useful when devising long-term socioeconomic development strategies and specifying directions for Russia’s technological development

Suggested Citation

  • Bodrunov S.Y., 2019. "Noonomics: The conceptual basis of the new development paradigm," Journal of New Economy, Ural State University of Economics, vol. 20(1), pages 5-12, March.
    • Handle: RePEc:url:izvest:v:20:y:2019:i:1:p:5-12
    DOI: 10.29141/2073-1019-2019-20-1-1
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    Citations

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    Cited by:

    1. Hasddin & Abd. Azis Muthalib & Edward Ngii & Asrip Putera, 2022. "The Ability of Green Open Spaces in Greenhouse Gas Control to Achieve Green Cities in Kendari City," International Journal of Energy Economics and Policy, Econjournals, vol. 12(1), pages 327-331.
    2. Vladimir V. Ilyashenko, 2019. "Interrelation of economic theory and the policy of the Russian state," Journal of New Economy, Ural State University of Economics, vol. 20(5), pages 5-22, December.

    More about this item

    Keywords

    noonomics; nooproduction; fourth industrial revolution; knowledge intensity; knowledge-based economy; reindustrialisation; new industrial society.;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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