Institutional aspects of the welfare management of the economic system

Abstract

The development of the modern economic system takes place within the framework of significant institutional transformations. The complication of the processes of economic interaction between economic entities, institutional formations is accompanied by additional waste of time and resources, which ultimately negatively affects the dynamics of the efficiency of the economic system and its well-being. Recent events in the field of politics and socio-economic development have clearly had a significant negative impact on current economic processes, and thus predetermined the corresponding negative changes in future periods, which, on the one hand, introduces a destabilizing factor into the traditionally established economic relations and processes, and on the other hand, the restructuring of familiar systems and relationships can provide an opportunity to find new ways of doing business and thereby improve the efficiency of the welfare of the economic system. The cyclical development of economic processes, as you know, has not only negative, but also positive consequences. In this regard, the main task of the present period is to find new favorable opportunities and ways to implement them as soon as possible in order to improve well-being.