Abstract:
The subject of the article is the most well-known theories of economic development, which describe tools and strategies for achieving sustainable development of society.
Methods and methodology. When considering and analyzing well-known theories and strategies of economic development, methods of social, cultural, political comparison of some aspects of the impact of these theories on the economic life of society, systemic and institutional analysis of their changing interaction over time in a particular country were used. It is noted that by focusing on one of the only factors, it is not possible to determine
the guaranteed success in the development of new concepts of growth strategy.
Results. As a result, it is noted that in order to achieve an optimal level of coordination, economists should conduct a generalized analysis of investment programs for government regulation and assess the attitude of a wide competent public to this. It is emphasized that the early development models, the “big push” strategy fell out of
favor when the world witnessed the collapse of the centrally planned economy and slow growth. It is also noted that the dependence of these models on international trends was pursued by an internal orientation associated with development models, which suffered a collapse of state-encouraged production, entered as a neoclassical counterrevolution
of the free market, privatization and export expansion that did not lead to anything.
Conclusions. All of this indicates that there is no single path of economic development that can be taken by all countries and, in the long term, the process of economic development requires changes in policy in order to take into account new emerging factors and trends.
The novelty of the article is the study of early ideas about the nature of economic prosperity, consideration of classical theories with four main groups: linear stages of growth models; models of structural change; dependence of these models on international trends; analysis of some aspects of neoclassical counterrevolutionary models, as
well as the theory of growth and impaired coordination.
Practical and/or theoretical significance. The results obtained will be used in the future to develop the conceptual foundations of socio-economic models for the development of the national economy for sustainable development.
