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Synthesis of Mainstream and Political Economy as an Emerge from the Economic Theory Crisis

In: Consequences of Social Transformation for Economic Theory

Author

Listed:
  • Maria E. Konovalova

    (Samara State University of Economics)

  • Turakul R. Rizokulov

    (Tajik State University of Law, Business and Politics)

  • Nadezhda Yu. Blinichkina

    (Tajik State University of Law, Business and Politics)

  • Ravshan A. Karimov

    (Tajik State University of Law, Business and Politics)

  • Olga Yu. Kuzmina

    (Samara State University of Economics)

Abstract

The prospects for the further development of economic theory are not fully defined due to the crisis in its main course and the lack of a consensus on promising directions of development in the scientific community. The main discussion is growing around the question of the necessity to synthesize the concepts of the mainstream with the foundations of political economy. It is necessary to determine the reasons for the rejection of synthesis and the conditions under which such a synthesis will be possible to resolve the dilemma. It can be argued that such a synthesis is possible in principle, taking into account the fact that the foundations of modern economic theory are laid within the framework of political economy. Evolutionary and dialectical methods make it possible to determine that the main condition for synthesis is the necessity to apply the fundamental research methods for the development of mainstream concepts. Considering the general state of the modern mainstream, a change in the methodological apparatus can contribute to recover from the crisis, and synthesis with political economy seems to be the most optimal way to solve the growing problems.

Suggested Citation

  • Maria E. Konovalova & Turakul R. Rizokulov & Nadezhda Yu. Blinichkina & Ravshan A. Karimov & Olga Yu. Kuzmina, 2023. "Synthesis of Mainstream and Political Economy as an Emerge from the Economic Theory Crisis," Springer Proceedings in Business and Economics, in: Vikas Kumar & Evgeny Kuzmin & Wei-Bin Zhang & Yuliya Lavrikova (ed.), Consequences of Social Transformation for Economic Theory, pages 51-62, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-27785-6_4
    DOI: 10.1007/978-3-031-27785-6_4
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    More about this item

    Keywords

    Mainstream; Mainstream crisis; Evolution of economic thought;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics

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