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- W3092511870 abstract "The article presents the history of the emergence and development of the Austrian School of Political Economy, which stood at the origin of the creation of theories of marginalism and innovative economic development. However, in the context of overcoming the permanent global financial and socio-economic crisis of 2008–2020, at the end of which its negative effects due to the coronavirus pandemic sharply increased, the emphasis in the work was made on the systematic theory of praxeology with the protection of economic interests and freedoms, with the fundamental justification by Ludwig von Mises and Friedrich von Hayek, who had predicted the Great Depression a few years before it began. The author makes a comparative analysis of long-term global socio-economic crises, based on the systematic theory of various cycles created over two centuries. The paper gives a comprehensive assessment of the processes of transformation of regional financial crises into the global financial and socio-economic crisis of 2008–2020, the phases of which were two waves with peaks in 2008–2009 and 2019–2020, which were also observed during the Great Depression of 1929–1939 from the peaks of 1933–1934 and 1937–1938. As a result of the contradictions accumulated by the latter one, according to Kondratiev’s theory of long waves, in the years of 1939–1945 was the Second World War. Against the background of Russia’s war with Ukraine, there is now a threat of the world conflict. That is why a systematic analysis of pragmatic theories of innovative development and praxeology of interests and freedoms, which were actualized in the permanent crisis of the 20-year period of the 21st century, was performed. JEL classification: E1, E2, Е17 Manuscript received 29.04.2020" @default.
- W3092511870 created "2020-10-15" @default.
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- W3092511870 date "2020-10-07" @default.
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- W3092511870 title "Austrian School of Political Economy in Rationale of Theories of Innovative Development and Practice of Human Interests and Freedom" @default.
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- W3092511870 doi "https://doi.org/10.18523/2519-4739.20205.1.76-81" @default.
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