ECONOMY OF THE NOW. CONUNDRUMS IN CONVENTIONAL ECONOMICS

      Аннотация: Digital transformation has revolutionized the preferences of individuals, firms, and governments and this process has been ongoing since the 1960s. However, the COVID 19 pandemic that set in since the end of 2019 has caused a quantum leap in digital transformation in several unprecedented ways. In particular, the enforced social distancing necessitated the adoption of more digital tools and platforms for communication and business. Going digital is no longer a matter of choice, it is now essential for survival, competitiveness, and growth. Arising from this, the STI community is under pressure to provide more sophisticated and efficient digital solutions.Of primary concern here is that the behavior and preferences of economic actors/agents have changed, and the changes have also altered how the economy operates and the requirements for success. Accordingly, the Book, The New Economy: Conundrums in Conventional Economics examines some of the compelling imperatives for the practice of economics that professional and academic economists and the students of economists need to take into consideration to effectively adjust to the emerging realities of the field.

Ключевые слова: ECONOMY OF THE NOW, CONUNDRUMS IN CONVENTIONAL ECONOMICS, GO DIGITAL OR GET LOST, DIGITAL TRANSFORMATION AND DISRUPTIONS, COVID lockdown, Microeconomic Theory Disrupted, THE PANDEMIC AND STI, Resilience Building Now a Vital Concern, RELEVANCE E OF SCENARIO THINKING, The Importance of Strategic Foresight, The Surging Platform Economy, LOW-COST INFORMATION AND KNOWLEDGE, The Role of Glocalization, EMERGING TRENDS IN CONSUMER BEHAVIOR, CONVENTIONAL ECONOMICS IN CRISIS, Moving from a Science to an Effective Theory, Since the 1970s, economists have broadly agreed that a reconstruction of economic thinking/theory is necessary