Actual Problems of
Economics and Law




DOI: 10.21202/2782-2923.2021.3.485-505

скачать PDF

Authors :
1. Aleksandr I. Yakovlev, Associate Professor of the Department of Economic Theory
Saint Petersburg State Electrotechnical University “LETI”

Contradictions of economic theory: a conflict between theory and practice in the age of digitalization

Objective: to analyze the works of representatives of the neoclassical school in economic theory, primarily the monograph “Principles of Economics” by Alfred Marshall, in order to identify the gaps (or issues) of neoclassicism that were laid into the foundation of economics at its formation.
Methods: the main research method is uniting the historical and the logical when developing the theory of money as a reflection of the practice of the capitalist commodity-money relations development.
Results: the article briefly traces the first links of the logical chain “commodity theory – money theory – capital theory” of the Marx’s triad as a reflection of the historical development of the commodity – money – commodity metamorphosis from the viewpoint of the transformation of classical political economy into economics. A critical analysis of its fundamental prerequisites is given; logical contradictions in its construction are shown. It is noted that neoclassicism is not able to explain the practice of modern marketing, in particular branding, and is not ready to analyze the digital economy in general
as a segment of the modern economy.
Scientific novelty: based on the analysis of the ceteris paribus assumption applied to the demand curve key factors, the article shows that this assumption contradicts modern practice. For the first time, the role of advertising and, more broadly, the information factor were considered, as well as the role and importance of branding, largely determining demand and the demand curve in the digital economy. It is demonstrated for the first time that cryptoeconomics as a fundamentally new direction of financial practice is not included into the scope of mainstream analysis and cannot be recognized by it, since it
is based on different methodological prerequisites.
Practical significance: the main provisions and conclusions of the article can be widely used in scientific and pedagogical activities, since the agenda is the creation of a new economic theory, including the theory of money, adequate to the information or digital economy at the current stage of society development. The inevitable stage of this difficult and contradictory process of changing the economic paradigm, affecting the entire system of economic relations and structurally expressed in the famous Commodity – Money – Capital triad, is the dialectical denial of the existing system of views, its
theoretical overcoming.

Keywords :
Digital economy; Theory of money; Money; Commodity theory; Value theory; Digital money; Digital capital; Demand curve; Cryptoeconomics

Bibliography :
1. Marks K. A Contribution to the Critique of Political Economy, Works, Vol. 12, K. Marks, F. Engel's, 805 p. (in Russ.).
2. National program “Digital economy of the Russian Federation”, available at: https://www.tadviser.ru/index.php/Stat'ya:Natsional'naya_programma_Tsifrovaya_ekonomika_Rossiiskoi_Federatsii (access date: 10.05.2021) (in Russ.).
3. Mill J. S. Principles of political economy with applications to social philosophy, Moscow, Eksmo, 2007, 1037 p. (in Russ.).
4. von Mizes L. Theory of money and credit, Moscow; Chelyabinsk, Sotsium, 2020, 804 p. (in Russ.).
5. Marshall A. Principles of Economics, Moscow, Progress, 1993, 594 p. (in Russ.).
6. Pigou A. C. The Economics of Welfare, Moscow, Progress, 1985, Vol. 1, 512 p. (in Russ.).
7. Sukhareva M. A. From the concept of postindustrial society to the concept of knowledge economy and digital economy: critical analysis of the terminology field, Gosudarstvennoe upravlenie. Elektronnyi vestnik, 2018, No. 68, pp. 445–464 (in Russ.).
8. Gilferding R. Financial capital: the latest phase of capitalism development, Moscow, Ogiz, Gos. sots.-ekon. izd-vo, 1931, XI, 460 p. (in Russ.).
9. Stonier T. The Wealth of Information. A Profile of the Post-Industrial Economy, London, 1983, 211 p. (in Russ.).
10. Marks K. The Capital, Works, K. Marks, F. Engel's, Vol. 23, 907 p. (in Russ.).
11. Jevons W. S. Money and exchange mechanism, Chelyabinsk, Sotsium, 2006, 192 p. (in Russ.).
12. Economic function of advertising, available at: https://spravochnick.ru/reklama_i_pr/ekonomicheskaya_funkciya_reklamy (access date: 10.05.2021).
13. Ishmanova N. S., Ishmanova M. S. Microeconomics (in structural-logical schemes), Izhevsk, 2017, 28 p. (in Russ.).
14. Bases of the theory of demand, supply and price formation, available at: https://studwood.ru/1370131/ekonomika/osnovy_teorii_sprosa_predlozheniya_tsenoobrazovaniya (access date: 10.05.2021) (in Russ.).
15. Fridman M. Marshallian demand curve. Milestones of economic thought, Saint Petersburg, Ekon. shkola, Vol. 1: Teoriya potrebitel'skogo povedeniya i sprosa, 1999, 380 p. (in Russ.).
16. Orehovsky P. A. Uniformity of consumer preferences: there is a demand curve?, Journal of Economic Regulation, 2013, Vol. 4, No. 4, pp. 60–72 (in Russ.).
17. Economic views of A. Pigou. The principle of “The least cumulative sacrifice”, available at: https://vuzlit.ru/1867086/teoreticheskie_pozitsii_pigu (access date: 10.05.2021) (in Russ.).
18. Nosova S. S. Microeconomy in questions and answers, tutorial, Moscow, KnoRus, 2012, 218 p. (in Russ.).
19. Evans V. Key strategic tools. 88 tools every manager must know, Moscow, Laboratoriya znanii, 2020, 459 p. (in Russ.).
20. Foreign economic activity of an enterprise, university tutorial, ed. L. E. Strovsky, Moscow, Yuniti, 1999, 821 p. (in Russ.).
21. Brand war Coca Cola vs Pepsi, available at: https://stoneforest.ru/look/allabout/drinks/coca-cola-vs-pepsi (access date: 10.05.2021) (in Russ.).
22. Kustova I. Cross-elasticity of demand, available at: https://www.syl.ru/article/211282/new_perekrestnaya-elastichnostsprosa-koeffitsient-perekrestnoy-elastichnosti-sprosa (access date: 10.05.2021) (in Russ.).
23. Lebedev O. T. Economics of sectoral markets, tutorial, Moscow, Izd-vo Politekhnicheskogo universiteta, 2009, 340 p. (in Russ.).
24. Pushina N. N. Tutorial for students majoring in 060800 of full-time, part-time and correspondence forms of training, Izhevsk, Izd-vo IzhGTU, 2002, 50 p. (in Russ.).
25. Vymyatnina Yu. V., Borisov K. Yu., Pakhnin M. A. Macroeconomics, in 2 parts. Part 1: tutorial and practicum for Bachelor and Master courses, Moscow, Yurait, 2017, 294 p. (in Russ.).
26. Davydenko E. A., Kolomoets A. A., Lashkova K. M. Symbiosis of the concepts of behavioral economy and neuromarketing in influencing consumers’ conscience, Marketingovye kommunikatsii, 2020, No. 2, pp. 106–116 (in Russ.). DOI: https://doi.org/10.36627/2619-1407-2020-2-2-106-116
27. Friedman M. The optimum quantity of money, in The Optimum Quantity of Money and Other Essays, London and New York, Macmillan, 1969, p. 305 (in Russ.).
28. Hayek F. A. Private money, Moscow, In-t nats. modeli ekonomiki, 1996, 229 p. (in Russ.).

Citation :
Yakovlev A. I. Contradictions of economic theory: a conflict between theory and practice in the age of digitalization, Russian Journal of Economics and Law, 2021, Vol. 15, No. 3, pp. 485–505 (in Russ.). DOI: http://dx.doi.org/10.21202/2782-2923.2021.3.485-505

Type of article : The scientific article

Date of receipt of the article :

Date of adoption of the print :

Date of online accommodation :