Sustainable Economic Development: Theory of Institutional Constructivism

The paper is devoted to the formulation of the problem of sustainable development of the intellectual economy and the use of the theory of constructivism in relation to solving the problems of institutional design of socio-economic systems. The purpose of this work is to explore the possibilities of applying the theory of constructivism to solve the problems of institutional design in the context of sustainable development of the intellectual economy. The author of the work proceeds from the need for a reasonable approach to action, which creates the basis for constructing an institutional environment, the source of which is the paradigm of self-organization of socio-economic systems, which underlies the theory and practice of radical constructivism. The study shows the links between sustainable development and the theory of institutional constructivism by identifying important goals, directions, and strategies. Based on the awareness of current global and national processes, the key issue is the transition to an innovative type of development. This transition involves important steps that involve changing the focus from traditional approaches in economics and production to strategies based on advanced technologies. This research is conducted by researchers, policymakers, and practitioners dealing with economic development, sustainability, and innovation.

1. Akerlof, G. A., & Kranton, R. (2000). Economics and Identity. Quarterly Journal of Economics, 115, 715-753. https://doi.org/10.1162/003355300554881

2. Barbier, E. B. (2011). The Policy Challenges for Green Economy and Sustainable Economic Development. Natural Resources Forum, 35, 233-245. https://doi.org/10.1111/J.1477-8947.2011.01397.X

3. Bilan, Y., Mishchuk, H., & Pylypchuk, R. (2017). Towards sustainable economic development via social entrepreneurship. Journal of Security and Sustainability Issues, 6, 691-702. https://doi.org/10.9770/JSSI.2017.6.4%2813%29

4. Bolshakov, B. E. (2011). The science of sustainable development. Moscow, Russian Academy of Natural Sciences.

5. ECD Work on Innovation. (2009). A Stocktaking of Existing Work. OECD Science, Technology and Industry working papers.

6. Folke, C., Hahn, T., Olsson, P., & Norberg, J. (2005). Adaptive governance of social-ecological systems. Annual Review of Environment and Resources, 30, 441-473. https://doi.org/10.1146/ANNUREV.EN-ERGY.30.050504.144511

7. Glazyev, S. Y., Sabden, O. S., Armensky, A. E., & Naumov, E. A. (2012). Intellectual economy – technological challenges of the XXI century. Almaty.

8. Glasersfeld, E. von. Radical constructivism and Piaget’s concept of knowledge. – 1978.

9. Makarov, V. L. (2003). Economics of knowledge: lessons for Russia. Bulletin of the Russian Academy of Sciences, 5, 5-24.

10. North, D. C. (1990). Institutions, institutional Change and Economic Performance. New York, Cambridge Press.

11. Ostrom, E. (2008). Frameworks and theories of environmental change. Global Environmental Change-Human And Policy Dimensions, 18(2), 249-252.

12. Popov, V., & Vlasov, M. (2006). Mini-economic institutes of the production of new knowledge. Yekaterinburg, Institute of Economics, Ural Branch of the Russian Academy of Sciences.

13. Sachs, J. D. (2015). The Age of Sustainable Development. New York, Columbia University Press.

14. Stiglitz, J., Sen, A., & Fitoussi, J.-P. (2010). Mismeasuring our lives: Why GDP doesn’t add up. Perseus Books Group, New York, NY.

15. Tonn, B. E. (2004). Research society: science and technology for the ages. Futures, 36, 335-346. https://doi.org/10.1016/S0016-3287%2803%2900153-8