TO THE PROBLEMS OF REPRODUCTION OF NATIONAL CAPITAL UNDER GLOBAL-LOCAL CHALLENGES: ON THE NATIONAL COMPONENT OF UKRAINE’S PRODUCTIVE AND COMMODITY CAPITAL

Abstract

A number of relevant problems of reproduction of national capital under global-local challenges are considered. The research boundaries of orthodox models of business cycle, economic growth, general equilibrium and "input-output" are outlined, in particular, their focus on empirical and applied issues and a certain detachment from fundamental theoretical analysis. The theory of reproduction of productive, commodity and social capital is updated in the context of the specific historical state of the national economy.

Attention is focused on: a) the reasons for the relatively low composition of national productive capital, the deterioration of the qualitative structure of fixed capital (outflows and withdrawals from the circuit of capital, deviant competitive actions of foreign capital, the relatively low level of professionalism of domestic entrepreneurs, etc.); b) the dangerous trend toward denationalization of the country's capital and the ways of transforming national appropriation into foreign appropriation, assimilation of the circuit of national capital by the circuit of foreign capital as important reasons for the slowdown and mutation of the industrial cycle of national capital; c) the imbalances in the ratio of: the value of the annual product of social capital to the volume of the money supply; the production and consumption of luxury goods to those of ordinary consumer goods; the real wages of hired workers to the value of their labor-power, and d) the impact of these imbalances on the reproduction of individual and social capital.

Recommendations are proposed for the accelerated expanded reproduction of national capital, its internal and external expansion (nationalization of the state and moderate state capitalization of the economy, channeling of expanded reproduction sources, growing a critical mass of national champions, transition to a mobilization-liberal economic policy, development and implementation of a state program for the development of national capital, etc.).