THEORETICAL RATIONALE FOR THE MECHANISM OF TRANSMISSION OF CYCLIC VIBRATIONS THROUGH INTERACTION OF PRODUCTION FACTORS
The cyclic processes in the economic environment take place under the influence of changes in the ratio of production factors. The views of scholars of various economic trends-Marxism, Keynesianism, the German historical school, etc. are systematized on the causes of economic crises. Monetary and non-monetary factors of overaccumulation are divided as reasons for the existence of cyclical dynamics, and the rationale for their impact on the origin of the economic crisis is given. The economic cycle is considered in connection with the interaction of production factors with industrial and financial capital.
Keywords: production factors, economic cycle, rate of profit, consumption, overconsumption.
Highlights:
• the causes of crisis processes arising as a result of the disruption in the functioning of in-dustrial and financial capitals were systematized;
• the mechanism of the cyclic development that took place under the influence of changes in the ratio of production factors was justified;
• approaches to stabilize economic cycles were revealed.
Nikita A. Petrov, Candidate of Economics, Associate Professor; Alexander M. Mikhailov, Doctor of Economics, Professor. - Samara State University of Economics.