CURRENT DIRECTIONS OF THE ECONOMY: THE ESSENCE AND THE PROSPECTS OF DEVELOPMENT

Abstract

The article offers a scientific understanding of the essence and prospects of the development of modern directions of the economy. Based on the theoretical analysis of the works of domestic and foreign scientists, the main approaches to defining the essence of bio-economy, nature-use economy, green economy, circular economy and sharing economy are characterized. A theoretical and methodological analysis was conducted and the relationship between the categories «bioeconomy», «economy of nature use», «circular economy», «sustainable development», «sharing economy», «economy of shared consumption» was substantiated. Based on the generalization of scientists' views on the definition of the essence of the term «bioeconomy», its refined interpretation is proposed as a direction of the economy, based on the use of resource potential based on biotechnology, which contributes to reducing dependence on non-renewable natural resources, ensuring food security for the purpose of sustainable development. Resource-oriented and economic-oriented approaches are singled out as dominant in foreign research on the circular economy.
 A number of factors that directly affect the formation of modern economic trends have been identified. It is emphasized that the prospects for the development of modern economic models are socially determined and depend on the relationship between responsible production and responsible consumption. The following value priorities for changing consumer behavior are outlined: buy only what is really necessary; regularly get rid of excess; by buying less, buy better quality and useful goods; switch to the use of multifunctional items.