V. A. MELYANTSEV Doctor of Economics Institute of Asian and African Studies, Moscow State University Keywords: global economy, developed and developing countries, slowing economic growth, physical and human capital, information technologies, debt, inequality The global economy, which has generally modernized relatively rapidly over the past two centuries, appears to have entered a prolonged phase of decaying growth. What are the causes of this phenomenon and what are its consequences? To what extent has this "new normal" reached both developed countries (WGS) and developing countries (PCs)? Despite the significant acceleration of technological, socio-economic, and institutional changes in the world1, the rate of investment in physical and human capital has increased many times (from 3-4% of GDP in 1000-1800 to 12-14% in 1800-1950 and 38% in 1950-2015, including by RG - from 4-6% to 17% and 41-42% and PC - from 2-3% to 8-9% and 33% of GDP)2, the growth of the global flow of goods, services, and finance (from 55% of GDP in 1975-1984 to 175% in 2005-2014) 3, the multiplication of total computer power since the mid-1950s. ~ by a factor of 4 trillion (!), there has been a significant slowdown in global economic dynamics in recent decades. THE PARADOX OF A LONG-TERM SLOWDOWN IN GROWTH Average Annual Growth Rate (SGTP) GDP per capita, which increased, in general, on the planet from almost zero - in 1000-1800 to 0.6-0.7% - in 1800-1950 and 2.8% - in 1950-1980, decreased in 1980-2015 by more than a quarter - to 2% (in the WG almost twice - up to 1.7%). GTP of the human development index, which, as a whole, increased worldwide from 0.1% in 1000-1800 to 0.7 - 0.8% in 1800-1950 and 1.8 - 1.9% in 1950-1980. (in the RG - up to 1.6% and PC - up to 2.4%), decreased in 1980-2015 by a third - up to 1.2% (in the RG - up to 0.9 - 1.0% and PC - up to 1.5 - 1.6%). Total factor productivity (TFP), which increased globally from almost zero to 0.4 - 0.5%, respectively (0.7 - 0.8% in the WG, ... Читать далее