Theory of Shocks About States in Static and Dynamic Economics

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Author(s): Olga Ivanovna Pilipenko (The Russian Presidential Academy of National Economy and Public Administration, Russia), Zoya Andreevna Pilipenko (Bank of Russia, Russia)and Andrey Igorevich Pilipenko (The Russian Presidential Academy of National Economy and Public Administration, Russia)
Copyright: 2022
Pages: 40
Source title: Research Anthology on Business Continuity and Navigating Times of Crisis
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-4503-7.ch025

Keywords: Business and Organizational Research / Business Science Reference / Environment & Agriculture / Sustainable Development

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Abstract

The place of the state in the theory of shocks is predetermined by the increasing importance of the subjective component of the processes of self-movement of systemic integrities. The main problem is that the state formalizes the actions of subjects as economic agents, abstracting from social conditions that generate the individual values of a person implemented in the economy. So, the economic subject acquires its own individual values in a society with a sharp polarization of citizens' incomes, inequality of opportunities, a shrinking middle class, and an ineffective public healthcare system, as demonstrated by the coronavirus pandemic. As a result, a fundamental problem arises of the discrepancy between society and economy as well as formal and informal institutions that predetermine the opportunistic behavior of the economic subjects. Thus, the state persistently strives for financial stability in the economy, abstracting from the problems of social disunity.

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Theory of Shocks About States in Static and Dynamic Economics

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