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Traditional market economy and its anti-cyclical potential in the assessments of researchers of the 19th and 20th centuries

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  • Orlyansky E. A.

    (Omsk Humanitarian Academy, Omsk, Russian Federation)

Abstract

The article deals with the first stage of the market economic system - the traditional market economy. The traditional market economy is considered in the assessment of its main researchers. The main goal of the study is to identify the main characteristics and features of the traditional economy, which would explain the absence of pronounced cyclical elements in it. It is assumed that several essential elements of such an economy carry the strongest countercyclical potential. The article uses the methodology of comparative analysis, which will help to find common ground among the most famous researchers of the traditional market economy. The study of the traditional market economic system was carried out in the context of overcoming the stereotype of the closed development of economic processes and the impossibility of influencing them by non-economic factors. This is confirmed by the fact that most of the countercyclical elements of the traditional market economy are derived from the spiritual and ethical sphere. At the same time, an integral part of the article is the position that this economic system retains all the characteristic features of a market economy. The traditional market economy practically did not experience cyclical tendencies in its development. This was due to the fact that this economic system contained built-in elements that ensured the absence in the traditional economy of both cyclicality itself and periodic cyclical crises.

Suggested Citation

  • Orlyansky E. A., 2021. "Traditional market economy and its anti-cyclical potential in the assessments of researchers of the 19th and 20th centuries," Russian Journal of Social Sciences and Humanities, Omsk Humanitarian Academy, vol. 15(2), pages 238-248, June.
    • Handle: RePEc:aws:omskjl:v:15:y:2021:i:2:p:238-248
    DOI: 10.17238/issn1998-5320.2021.15.2.29
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    References listed on IDEAS

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    1. Soniia David, 1997. "Household economy and traditional agroforestry systems in western Kenya," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 14(2), pages 169-179, June.
    2. J Barkley Rosser & Marina V Rosser, 2005. "The Transition between the Old and New Traditional Economies in India," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 47(3), pages 561-578, September.
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    5. Dalhia Mani, 2021. "Who controls the Indian economy: The role of families and communities in the Indian economy," Asia Pacific Journal of Management, Springer, vol. 38(1), pages 121-149, March.
    6. Wasantha Athukorala & Clevo Wilson, 2017. "Distributional impacts of irrigation-induced agricultural development in a semi-subsistence economy: new evidence," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 19(1), pages 59-75, January.
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