PANFLATION AS MANIFESTATION OF CRISIS PHENOMENA IN MODERN SOCIO-ECONOMIC REALITY

Abstract

The article considers the problem of new, modified, inflation processes manifestation in the present-day market environment. Modern approaches to the inflation processes analysis are brought to light. In particular, the problems of inflation detection, causes of inflation, anti-inflation policy and acceptable level of inflation for countries with different levels of market development are revealed. Attention is paid to modern directions of inflation research. Manifestations of inflation processes modifications are determined in the article, penetration into economy related fields such as educational, social, intellectual, etc. are revealed. The focus is set on the necessity of a new look at these processes, in particular it concerns the emergence of modern, scantily explored categories, such as “shrinkflation” and “panflation”, which require more thorough research. It is proved that inflation processes in the monetary environment acquire new qualities as a result of the active development of cryptocurrencies varieties which operate outside of state regulation. Inflation processes deepen in the financial environment due to the state uncontrolled spread of financial innovation instruments (derivatives), characterized by separation from their ontological, material basis. In today’s financial markets, speculative transactions with innovative products are not directly related to production, which provokes constant financial instability. It is shown that the modern economy – the knowledge economy in Ukraine is exposed to inflation processes, which manifest themselves in the devaluation of the human capital role as a factor of production. The entire educational sphere in its various manifestations is devaluated, in particular, productive learning time, knowledge level, its assessment, educational documentation and moral and ethical standards of scientific activity is depreciated. It is shown that these processes lead to the depreciation of labour costs and the gap with the level of education. The peculiarities of these processes influence on the Ukrainian economy development are revealed. It is stated that ignoring these manifestations of panflation processes leads to their reproduction, expansion and penetration into new spheres.