THE HISTORY OF THE DEVELOPMENT AND FORMATION OF ECONOMICS AS A SCIENCE: A REVIEW OF DEVELOPMENT PROSPECTS

Abstract

The relevance of this research topic stems from the profound identity crisis facing modern economics. Current geopolitical factors demonstrate the need to describe the history of the development and emergence of economics as a science, describe traditional models, and the nature of financial turbulence in recent decades, as well as examine the rapid digitalization of economic life. In a context where the economy is becoming increasingly politicized and influenced by geopolitical factors, examining the genesis of economic thought allows us to discern the contours of a new emerging paradigm. The research's potential lies in its ability to structure the search for answers to 21st-century challenges through the prism of historical and methodological analysis. Examining the evolution from the classical school to contemporary institutionalists and behavioral economics reveals the cyclical nature of scientific development, in which periods of universalization of theoretical constructs alternate with stages of fragmentation and interdisciplinary synthesis. The focus is on such areas as the search for sustainable growth models, as well as the methodological integration of psychology, sociology, and ecology into economic analysis. Thus, this study is not limited to recording historical facts, but rather forms a direction that allows us to identify the vectors of transformation of economic science in the era of digitalization and external challenges, which determines the theoretical significance of the work and its practical relevance for the formation of subsequent research strategies.