КОНЦЕПТ НАГРОМАДЖЕННЯ КАПІТАЛУ ТА ЕКОНОМІЧНОГО ЗРОСТАННЯ В КЛАСИЧНІЙ ШКОЛІ ПОЛІТИЧНОЇ ЕКОНОМІЇ

Abstract

The article is devoted to the theoretical review of the main ideas of the classical school of political economy on the content and drivers of economic growth and the possibility of their application in the current economic environment. The main ideas of classical economic theory on the nature and factors of economic growth in terms of fundamental developments of the main representatives of this scientific trend are described in the article. It is established that the representatives of the classical school of political economy firstly provide a meaningful theoretical and methodological explanation of economic categories, laws and processes (production, circulation, accumulation, savings and investment, capital etc.) of economic growth, identifying forces influencing economic growth and social welfare outlining the mechanisms underlying the growth process of various socio-economic formations. It was found that the classics of political economy as a key driver of economic growth considered the accumulation and reproduction of capital, which in turn depends on the creation of savings and investment, proportionality of various forms of capital, institutional environment, scientific and technological progress, public policy, globalization and other factors. It was found that the conceptual theoretical provisions for expanded economic reproduction are an important basis for understanding the determinants and mechanisms of qualitative changes in the economic system, and can be used to consider the possibility of economic growth in modern economic conditions. The acuteness of application of ideas of classical school of political economy to the analysis and substantiation of reasons and levers of economic growth in conditions of modernity is confirmed, in fact, as the example of economic theory shows, classical positions of influence of reproduction of capital on economic growth were successfully adapted for explanation of economic processes in conditions of free and planned economy in conditions of formation of capitalist and socialist economy and other macroeconomic conditions.