THE NATURE OF THE ECONOMIC PROCESS

Анотація

Background. Today there are questions that need to be answered, namely: what is the "uncertainty" in the discourse of economic theory and how to take it into account in our economic strategies and processes; how moral and ethical norms can affect our understanding and practice of formation and implementation of economic processes. Analysis of recent researches and publications. The studies of D. North, F. Knight, I. Prigozhin, and E. Laslo are devoted to the problem of uncertainty of economic processes, in which uncertainty is considered in the ontological aspect. Fundamental studies of moral and ethical norms of economic development were carried out by S. Bowles, J. Rawls and A. Sen etс. The aim of the article is to clarify the causal and axiological contexts of the economic process. Materials and methods. The works of native and foreign specialists were the materials of the research. General scientific research methods such as historical, analysis, synthesis and abstraction have been used in the article. Results. Uncertainty is inherent in a market economy and its processes. It is argued that the economic process is nonlinear, its outcome is probabilistic, and may be uncertain. Human economic behaviour is mainly determined by institutions, especially within the economic process. It is proved that there is an organic connection between neoclassical and behavioural theoretical concepts of human economic behaviour. The difference in appro­aches lies in the levels of generalization of the object and subject of research. The moral and ethical context of the economic process can be taken into account in the models of the economic process, but only as an imperative of "economic justice". The algorithm of finding a "fair solution" involves the approximation of the state of coordination of interests to equilibrium. Conclusion. It is necessary to continue researching the problems of causality of the economic process, which will contribute to the validity of forecasts. The moral and ethical context of the economic process requires expansion of the concept of its effectiveness and the development of modeling methods. Keywords: economic process, evolution, intentionality, uncertainty, institutions, economic behaviour, moral and ethical content, justice.

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