Applied Capabilities of the Theory of Fictive Capital: the Concept of a New Economic Reality

Abstract

After the global crisis of 2008–2009 a new economic reality was established in the socio-economic system, one of the signs of which was the overaccumulation of complex problems generated by transformations, for the solution of which the possibilities of fictitious capital are in demand. The disclosure of such possibilities presupposes further development of the theory of fictitious capital. The article explores the applied possibilities of the theory of fictitious capital, arising in the specific conditions of the new economic reality, associated with meeting the needs of two processes: an accelerated transition to a “green economy”; expanded generation of intellectual capital. The focus of the study is on additional opportunities for solving the key problems of the new economic reality associated with the intensive development of the theory of fictitious capital and the disclosure of its additional applied potential, adequate to the conditions of this reality. The study reveals the growing needs of the socio-economic system, in which a new economic reality has been established, in a comprehensive solution of many interrelated problems caused by technological shifts and socio-economic transformations and hindering the further sustainable and effective development of this system. For a comprehensive solution of such problems, it is necessary to solve the following tasks: to find qualitatively new resources for an accelerated transition to a “green economy”; ensure the expanded generation of intellectual capital, which has become a key factor in modern development. The theory of fictitious capital, adapted to the conditions of the new economic reality, reveals the application possibilities of fictitious capital in relation to the specified tasks, which additionally confirms the validity of the conclusion that a good theory is the most practical. Implementation of the applied possibilities of fictitious capital makes it possible to identify and practically apply qualitatively new resources for an accelerated transition to a “green economy”, as well as to ensure the expanded generation of intellectual capital, which plays a key role in resolving the complex problems of the new economic reality. At the same time, in both cases, the starting point for such a sale is debt securities designed and issued for a period corresponding to the duration of the processes whose needs they provide.