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American Economy Market Mechanism: Digitalisation Impact
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American Economy Market Mechanism: Digitalisation Impact
Annotation
PII
S268667300009424-6-
DOI
10.31857/S268667300009424-6
Publication type
Article
Status
Published
Authors
Anatoliy Porokhovskiy 
ORCID: 0000-0001-5520-0550
Affiliation:
Institute for the USA and Canada Studies, RAS
Lomonosov Moscow State Universit
Address: Russian Federation, Moscow
Edition
Issue 5
Pages
24-38
Abstract

The market mechanism is one of the generic features of the economy. Despite its sustainable nature, it is changing along with the development of the economy of the United States and other countries. Digitalization that has unfolded in all areas of the economy and society affects both the market mechanism and its key elements - property, competition, capital, and national legislation. Each of these elements has its own change parameters.

Digitalization enhances the role and importance of intellectual property, the development of which reflects the emergence of new forms of capital and new types of competition and monopoly, and also increases the state's responsibility for maintaining sustainable economic growth.

Meanwhile, neither the market mechanism, nor digitalization is not aimed at solving social problems. In the American economy, the gap between the rich and the poor is not narrowing; the level of poverty is growing throughout the world. Ordinary people are increasingly worried about the questions - what awaits them ahead, in which society their children will live.

The article shows that the solution of social problems is possible only with a systematic approach to the current state of the economy and society. All parts of a market economy are interconnected through a market mechanism. Its adjustment with the joint participation of people, business and the state with the leading role of the latter can satisfy the interests of all.

Keywords
market mechanism, competition, property, capital, digitalization, artificial intelligence, monopoly, mixed economy, service economy, information society
Received
12.02.2020
Date of publication
08.05.2020
Number of purchasers
37
Views
5619
Readers community rating
0.0 (0 votes)
Previous versions
S268667300009424-6-1 Дата внесения правок в статью - 24.04.2020
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References

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