The main features and functions of natural and commodity farming

The form of social economy is a certain way, a type of organization of economic activity of people, the real functioning of the social economy. The general forms of economic organization of production include natural and commodity production. Subsistence farming is a type of farm in which production is aimed directly at satisfying the producer’s […]

The essence of production and its relationship with needs

At whatever stage of historical development human society would be, people, in order to live, must have food, clothing, housing and other material benefits. The means of subsistence necessary for  man must be produced. Their manufacture is carried out in the production process. That is why production is an objective necessity. So what is manufacturing? […]

Globalization and regionalization: prerequisites, essence, dialectics of interaction

The twentieth century unfolded before economists such a large-scale panorama of grandiose changes in the socio-economic life of the planet that their comprehension will require a lot of time and intellectual energy from scientists. Among the most important trends in modern socio-economic development, it is necessary to name such seemingly opposite in meaning, but at […]

Least developed countries

This subgroup includes young states of Africa, Asia, Latin America and Oceania, freed in the second half of the twentieth century from the colonial yoke. The list of countries included in this subgroup almost coincides with the list of “least developed countries” determined by the UN General Assembly. The criteria for inclusion on this list […]

The theory of competition of the Austrian school of neoliberals. Functions of competition according to F. Hayek

Representatives of the neo-Austrian school L. Mises and F. Hayek refused to recognize the equilibrium approach as the main method of analyzing economic phenomena, and the search for equilibrium conditions – the main task of economic theory. In Hayek’s views on competition, the most interesting are: comparative characteristics of the competitive mechanism and the mechanism […]