Abstract
ABSTRACT The aim of the study is to assess current trends, regularities and contradictions in the Marxist critique of neoliberal capitalism. The methodology of the study is built on a comparative analysis of the latest scientific works, an approach based on quantitative analysis of the global neoliberal development in the period 1980–2020. For the analysis this authors used the data of the World Bank and the International Monetary Fund(IMF) on the group of ‘Big Seven’ countries – Canada, France, Germany, Italy, Japan, United Kingdom, the United States and China. A comparative analysis shows a significant lag in the countries with a neoliberal model of global economic growth. It can be argued that the neoliberal model of economic development proved effective at the initial stage of its practical application in overcoming the inflationary shock caused by the oil crisis of the 1970s, as well as in the conditions of highly competitive industrial production. At the same time, in the context of the post-industrial formation of the digital economy, neoliberal ideology no longer meets the challenges of the times and is no longer able to support sustainable economic growth as well as prosperity.
Published Version
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