THE FUTURE OF THE GLOBAL ECONOMY

Abstract

The purpose of the article is an attempt to justify the inevitability and legitimacy of the existence of a formational approach in representing the future of the world economy, as well as to predict transformational trends in the development of the world community. In the article, the socio-economic formation is considered as a developing social-production organism, which has not only a special mode of production, its own type of production relations, a special nature of the social organization of labor, but also specific historically determined objects of control, a special ideology of spiritual values. The article outlines the problems of overproduction of material goods and crisis phenomena, including pandemic ones in the modern world. It is noted that poverty and inequality in society require institutional restructuring, a new look at solving social problems and public choice. The article examines the universally recognized values of mankind in the context of worldview, philosophical, cultural and institutional transformations. The article deals with the problems of increasing the efficiency of global governance in the world economy based on the transition to the economy of social capitalism.