From the crisis-generating nature of global development to the transformation of the world financial and economic architecture

Cover Page

Cite item


The modern dynamics of the global processes unfolding in the financial and economic sphere is currently experiencing a wide range of crises of different profiles (which forms the crisis-generating nature of global development), requiring the development of new approaches to overcome them. This determines the relevance of the description of a crisis dynamic, specific examples of its evolution and growth. The purpose of the study is to identify the main contours of the transformation of the world financial and economic architecture (WFEA) in such conditions. For this, the methodology of systems analysis, the dialectical method of scientific knowledge, methods of historical, logical and comparative analysis were used. As a result, it was concluded that the monetary methods used only make it possible to stop the spread of the crisis, but do not remove its root causes, since the crisis dynamics has a steady growing nature, which occurs with a parallel increase in emission volumes. The comparison of two world economic structures of the established imperial and new integral ones is carried out. The issue of the process of gradual renewal of the entire world system, WFEA, its reboot with elements of transformation, but in the general outlines of evolution, is considered. The revolutionary nature of development will be associated only with technological leaps, including due to the manifestation of the sixth wave of technological development, which will also adjust the transformation of the entire WFEA to itself.

About the authors

Fedor A. Smirnov

World-System Research Center (Think Tank)

Author for correspondence.

PhD in Economics, financial analyst, scientific director

36 Ostrovityanova St, Moscow, 117647, Russian Federation

Anatoly V. Golovkov

World-System Research Center (Think Tank); Analytical Center for the Government of the Russian Federation


PhD in Geologo-Mineralogical Sciences, expert of the Analytical Center for the Government of the Russian Federation, Head of the High-Tech Synthesis Laboratory and Vice President of the World-System Research Center (Think Tank).

36 Ostrovityanova St, Moscow, 117647, Russian Federation; 12 Akademika Sakharova Ave, Moscow, 107078, Russian Federation


  1. Dalio, R. (2018). Principles for navigating big debt crises. Kindle Edition.
  2. Diamandis, P.H., & Kotler, S. (2016). Bold. How to go big, achieve success, and impact the world. New York, Simon & Schuster Paperbacks.
  3. Duncan, R. (2005). The dollar crisis. Causes, consequences, cures, second edition. New York, Wiley.
  4. Duncan, R. (2008). Krizis dollara. Prichini, posledstviya i pyti vihoda [The dollar crisis. Causes, consequences and exit routes]. Moscow, EVRO Publ.
  5. Glazyev, S.Y. (2018). Rivok v budushee. Russia v novom tehnologicheskom i mirohozyaistvennom ukladah [Leap into the future. Russia in new technological and world economic structures]. Moscow, Knizhnyi mir Publ.
  6. Golovkov, A.V. (2019). Perspectivi sozdaniya v Rossii innovatsionnoi economiki sozialnogo gosudarstva [Prospects for the creation in Russia of an innovative economy of a social state]. Audit and financial analysis, (5), 97–103.
  7. Golovkov, A.V., & Smirnov, F.A. (2017). Sberegenie ecosistemy zemli – novii trend economiki razvitiya zivilizachii [Saving the earth's ecosystem is a new trend in the economy of civilization development]. Intellectual Property Exchange, (12), 25–32.
  8. Hongbin, S. (2015). Voina valut [War of currencies]. Moscow, ROO “Russkii vybor” Publ.
  9. Kurzweil, R. (2017). Transcend. Desyat shagov na puti k vechnoi zizni [Transcend. Nine steps towards eternal life]. Moscow, Mann, Ivanov i Ferber Publ.
  10. Mirkin, Y. (2020). Transformation of the economic and financial structures of the world: The impact of growing shocks and catastrophes. Outlines of global transformations: Politics, economics, law, 13(4), 97–116.
  11. Mirkin, Y.M. (2020). Budushee obshestv i mesto Rossii [The future of societies and the place of Russia]. Russia in global affairs, (6). Retrieved November 1, 2020, from
  12. Piketty, T. (2016). Kapital v XXI veke [Capital in the XXI century]. Moscow, Ad Marginem Press.
  13. Reinhart, M.C., & Rogoff, S.K. (2009). This time is different. Eight centuries of financial folly. Princeton University Press.
  14. Rickards, J. (2016). The road to ruin. The global elites' secret plan for the next financial crisis. Penguin Random House UK.
  15. Ross, A. (2017). Industrii budushego [Industries of the future]. Moscow, AST Publ.
  16. Russell S., & Norvig P. (2017). Iskusstvennii intellect. Sovremennyi podhod [Artificial intelligence. Modern approach]. Moscow, Vilyams Publ.
  17. Schwab, K. (2017). Chetvertaya promislennaya revolutsiya [The fourth industrial revolution]. Moscow, Eksmo Publ.
  18. Singularity University. Retrieved November 1, 2020, from
  19. Smirnov, F.A. (2015). Mirovaya finansovo-economicheskaya arhitektura. Dekonstruktsiya [World financial and economic architecture. Deconstruction]. Moscow, Buki Vedi Publ.
  20. Smirnov, F.A. (2017). Teoriya mir-systemnogo analiza (parametric ob’emnosti) [The theory of world-systems analysis (volume parameters)]. Moscow, Narodnoe obrazovanie Publ.
  21. Smirnov, F.A. (2018). Model izmerenya mejdunarodnih prozessov: “Indeks tehnologyi” i gruppa tehnologyi “NBICS+” [Model for measuring international processes: “Technology Index” and the group of technologies “NBICS +”]. Auditor, 3(276), 47–54.
  22. Smirnov, F.A., & Golovkov, A.V. (2017). Zabota ob ecologii Zemli – strategiya budushego Rossii i mira [Caring for the Earth's ecology is a strategy for the future of Russia and the world]. World of a New Economy, (1), 6–14.
  23. Smirnov, F.A., Golovkov, A.V., Savin, L.V., Sevostyanov-Briksov, V.V., Kuznetsov, A.V., Yakovlev, G.D., Baturin, V.K., Yudina, T.N., Notin, A.I., & Rybkovskaya, O.N. (2018). Na puti k novomy “Bretton-Wydsy” – konturi globalnih transformatsyi [Towards the “New Bretton Woods” – the outlines of global transformations]. Moscow, NITs “Akademika” Publ.
  24. WEF. (n.d.). The Global Risks Report 2019. Retrieved November 1, 2020, from
  25. WEF. (n.d.). The Global Risks Report 2020. Retrieved November 1, 2020, from
  26. World Economic Forum – The Great Reset. (n.d.). Retrieved November 1, 2020, from
  27. World Economic Forum, WEF. (n.d.). Retrieved November 1, 2020, from

Copyright (c) 2021 Smirnov F.A., Golovkov A.V.

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

This website uses cookies

You consent to our cookies if you continue to use our website.

About Cookies