Sutyagin V.Yu. Tambov State University named after G.R. Derzhavin, Tambov, Russian Federation firstname.lastname@example.org
Radyukova Ya.Yu. Tambov State University named after G.R. Derzhavin, Tambov, Russian Federation email@example.com
Pakhomov N.N. Tambov State University named after G.R. Derzhavin, Tambov, Russian Federation firstname.lastname@example.org
Subject The article addresses the regularity of capitalism development cycles, analyzes its cyclical nature and considers the 2008 crisis in the context of capitalist development patterns. Objectives The purpose of the study is to prove that the crisis has a system nature and is connected with a business model. Methods We employ a dialectic method, induction, analysis of dynamics, sampling observation, and grouping, united by a cross-disciplinary approach. Results Cycles in capitalism development is a natural process which is disturbed by recurrent systemic crises. A recovery occurs under a new technological base (technological mode), therefore, the world economic architecture is updated (a new technical and economic coenosis is formed). A harbinger of the new technological mode is the development of a new power source, which exceeds the energy resources of the previous technological mode in terms of efficiency. The analysis shows that the new energy (slate oil and gas, biofuel, solar and geothermal energy) do not match the energy efficiency criterion, and this leads the world economy to a 'technological stalemate', preventing its transition to a new technological mode. Conclusions and Relevance The findings show that the 2008 crisis is far from being over and has a system nature. Economic recovery is possible only under a new technological paradigm.
Keywords: economic growth, economic crisis, business cycle, energy resources
Sutyagin V.Yu., Radyukova Ya.Yu., Kolesnichenko E.A. et al. Systemic Crisis of the World Economy or the End of the "Bourgeois Mode of Production". European Research Studies Journal, 2017, vol. XX, iss. 3B, pp. 412–431. URL: http://www.ersj.eu/dmdocuments/2017-xx-3-b-38.pdf
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