Origins and essence of a socially-oriented market economy

Questions “Where are we going?” “What are we moving to?” are no longer perceived as painfully as before, since the main answer is known: “to a socially-oriented market economy.” However, in the wake of this answer, new questions arise: Where are the origins of the new economy? Who, where and when put forward such ideas? […]

Features of the transition period in the economy of the Republic of Belarus

In the socio-economic development of the Republic of Belarus, the years 1996-2000 were a turning point in overcoming the deep crisis phenomena occurring in the country as a result of the collapse of the USSR and the liberal economic reforms carried out from 1991 to 1994. Price liberalization in 1992 triggered an acute financial crisis, […]

Personal income after taxes

In order to calculate net personal income, the NNP should deduct the sum of all direct and indirect taxes, all corporate income not paid on dividends and withheld as net savings, and then add the amount  of transfer payments – such as Social Security pensions or interest payments on federal government loans. As a result, […]

Income distribution models

Market demand is determined on the basis of decisions that are made by many individuals, based on their needs and disposable incomes. But in order to distribute funds between various needs, it is necessary to somehow compare them. As a basis for comparing different needs at the end of the nineteenth century, economists adopted utility. […]


The modern structure of the US economy is dominated by the service sector (75%), which indicates the country’s transition to the post-industrial stage of development. In agriculture, only 2% of GDP is created, in industry – 23%. The most important feature of the US economy was the equalization of the location of the economy. In […]