SELECTED DETERMINANTS AND DIRECTIONS OF THE NEW WAY OF THINKING IN ECONOMIC SCIENCES
SELECTED DETERMINANTS AND DIRECTIONS OF THE NEW WAY OF THINKING IN ECONOMIC SCIENCES

Summary/Abstract: The text is devoted to new trends and changes emerging in the economic sciences, focused ongrowth, socio-economic development and income inequalities in the context of the idea of globalrationality, understood as the ability to sustain the long-term existence of civilization on theentire planet. The thematic scope of this problem is broad; thus it is impossible to cover all itscomplexity in one study. Hence, attention is focused on selected aspects of the issues raised:on issues related to growth and development as well as economic inequalities, the economicfoundations of growth, and the issue of substituting natural capital by human capital. A criticaldiagnosis and postulates for the future, with regard to measures of well-being in the contextof the idea of sustainable development, are also considered as well as including the issue ofsustainable development in development economics. The article ends with concluding remarkshighlighting the thesis that economic growth should now be acceptable only when it does notexcessively exploit natural capital and does contribute to deteriorating the quality of life. As forthe methodological side of the text, it was created mainly through analysing the literature onthe subject, but attention should be paid to the original nature of some predictions and recom-mendations, which were made as a result of the assumptions of the so-called diagnostic andprognostic analysis.

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