New technologies and the structure of the future economy

Theoretical bases of economics and management

The evolution of socio-economic systems is non-linear and contains both periods of smooth changes and sudden shocks of transformation. Seven years after the economic crisis of 2007–2009 the pace of recovery of the US and European economies remains extremely low. One reason for the stagnant state of the developed economies is the structural and technological imbalance, overcoming which will require more time and significant and substantial financial resources. A key factor in the development of breakthrough technologies is the amount of financing of fundamental and applied research from the government and the private sector. The peculiarity of the current stage of development of science is the potential for rapid spread and reproduction of general-purpose technologies, which creates certain advantages for developing countries, but developed countries themselves are experiencing a certain lack of groundbreaking scientific discoveries. All this together leads to uneven technological progress and a significant slowdown in the economic development in general. Breakthrough technologies justify their mission only if they are widely used in industry and grant access to the market of new technological products to the mass consumer. Structural imbalances can be overcome through the development of new technological platforms, the correct use of market institutions to create a competitive environment, and creation of a new system of relations between the state and the private sector, where the strategy of the control of industrial structures should belong to the state.