Author page: Mikhail Gelvanovsky

The Role of Fundamental Science in Providing Financial-Economic Security

#9. Execution Excess
The Role of Fundamental Science in Providing Financial-Economic Security

With the capitalist economy development more evident becomes the tendency of a definite isolation of financial sphere from the so-called “real sector” of economy. This “isolation” is supported the basic principles of economic thought, in particular by money neutrality principle (the classic dichotomy) of the neoclassical school. Today, financial sector and financial capital have transformed from a mediator serving reproduction into a key factor, largely determining economic development of both individual national economies and the world economy as a whole. Hypertrophic growth of financial sector causes a widening gap between material-substantial and financial flows. Resulting imbalances lead to severe crises phenomena, the most powerful of which is the global crisis began in 2008. Its effects are still determining a high degree uncertainty of the whole world development. This article deals with scientific comprehension of the problem of providing financial and economic security of an open economy, which includes Russia, in arising difficult conditions of increasing instability and global competitive tension.

The Role of Fundamental Science in Providing Financial-Economic Security

#8. Some Time in Petrograd...
The Role of Fundamental Science in Providing Financial-Economic Security

With the capitalist economy development more evident becomes the tendency of a definite isolation of financial sphere from the so-called “real sector” of economy. This “isolation” is supported the basic principles of economic thought, in particular by money neutrality principle (the classic dichotomy) of the neoclassical school. Today, financial sector and financial capital have transformed from a mediator serving reproduction into a key factor, largely determining economic development of both individual national economies and the world economy as a whole. Hypertrophic growth of financial sector causes a widening gap between material-substantial and financial flows. Resulting imbalances lead to severe crises phenomena, the most powerful of which is the global crisis began in 2008. Its effects are still determining a high degree uncertainty of the whole world development. This article deals with scientific comprehension of the problem of providing financial and economic security of an open economy, which includes Russia, in arising difficult conditions of increasing instability and global competitive tension.