World Economic Systems Hypothesis of Glazyev

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"to understand why there is a change of SCCA, it was necessary to investigate the action of the internal mechanism of SCCA, which was carried out by academician S. Glazyev — put forward a scientific hypothesis about the formation within the SCCA of world economic structures (WES).

In accordance with the scientific hypothesis of S. Glazyev, WES is “a system of interrelated international and national institutions that ensure the reproduction of the economy and determine the mechanism of global economic relations.”

At the same time, “the main role is played by the institutions of the leading country, which have a dominant influence on international institutions regulating the world market and international trade, economic and financial relations.” The foundations of the current Imperial (Monopolistic) WES of the American SCCA were laid at the Bretton Woods monetary and financial conference in 1944, where the Bretton Woods gold-dollar monetary and financial system, the IMF, the IBRD and so on were formed. In 1947, GATT was created, later transformed into the WTO, in 1949, NATO and other institutions of the Imperial (Monopolistic) WES were created.

The downward wave of the K-cycle of the 1970s and 1980s made its adjustments to the Imperial WES. The United States abandoned the free exchange of dollars for gold, and the Bretton Woods financial system was replaced by the Jamaican financial system based on freely floating exchange rates, marking the transition from material to financial expansion.

And since the 1980s, the American SCCA entered the final phase of its development — the phase of financial expansion, which recorded a historical record for the level of inequality in the world. The mainstream of this phase of the American SCCA was neoliberalism, embodied in the ideology of the Washington Consensus, which is a guide to action for governments and countries of the world.

On the downward wave of the new K-cycle, which started with the crisis of 2008, in the “take-off phase”, the basic technologies of the 6TS and a new paradigm of economic development are already being formed, the painful search for which is taking place nowadays. Neo-liberalism is already visibly dying, and the new economic doctrine has not found its clear outlines yet. In the 2020s, the “take-off phase” will pass into the “growth phase,” and the rapid development of the world economy in the new Center for World Capital Accumulation is in Asia." (