The phenomenon of economic singularity as a result of macroeconomic uncertainty


  • M. Głaczyński Collegium Humanum-Warsaw Management University
  • O. Ivanytskij Institute of Religious Sciences St . Thomas Aquinas
Keywords: singularity; macroeconomic uncertainty; point of singularity; risk; zone of singularity.

Abstract

Macroeconomic uncertainty is the most important feature of the modern civilizational development. In its manifestations, it can cause an even more threatening phenomenon, which in scientific literature has been called “the point of singularity”. The article attempts to summarize the scientific views on the phenomenon of economic uncertainty, and to show the evolution of the concepts of "uncertainty" and "singularity". Revealed the causes of the singularity, which are associated with a reduction between production and consumption time; minimization of the mediation functions that the financial and economic system took upon itself; the instability of production and economic relations and the lack of the possibility of forecasting their development; crowding out living labor and replacing it with capitalized one. It is shown that the notion of “a zone of singularity” more precisely corresponds to a possible scenario of economic development. Preparation for future changes involves the study of macroeconomic risks, their identification, assessment of the possible consequences of their materialization.

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PDF Downloads: 48
Published
2019-02-28
How to Cite
Głaczyński, M., & Ivanytskij, O. (2019). The phenomenon of economic singularity as a result of macroeconomic uncertainty. Fundamental and Applied Researches in Practice of Leading Scientific Schools, 31(1), 61-63. https://doi.org/https://doi.org/10.33531/farplss.2019.1.12