Abstract

The current model of the socioeconomic system is plagued by a number of imperfections which tend to escalate with the passage of time Attempts at resolving inherent issues and contradictions under the existing scientific paradigms have proven futile It is hardly an exaggeration to state that the modern academic thought has reached an impasse in its efforts to explain some emergent transformations from the perspective of dominant economic theories Thus there is an objective need for the development of a new viable model for socioeconomic system organization Instead of accounting for minute circumstances the model should rely on long-term fundamental system dynamics