Determinants of modern economic science

This article analyses the new developmental directions of economic science where the theories studying human behaviour, values, ideas and preferences prevail. The study focuses on the role of human resources in the development of the economy and the importance of economic behaviour. The ideas of praxeology, innovative economy and neoinstitutionalism are examined. The contradictions of modern theories are revealed. The study identifies the opposite viewpoints of the theoretical and real economy on the person’s destiny in the economic process, the role of information and knowledge in the worldview formed by him and the purpose of his labour activity. The revealed problems of the existing economic model are explained by the interest of modern theories in human personality. Contradictions can be eliminated through the development of common methods in economic science taking into account the ideas of classical theory and modern approaches. Economic information covers both the household level and the professional activity of a person as a subject of the economy and an economic resource. As a consequence, the theoretical economy is intended to define the methodology of economic science, and the real economy is to designate the functions of all economic entities. Rationality of human behaviour is determined by values, competence, professionalism, level of economic thinking, interest in positive result of activities, focus on results and readiness for innovation and self-development.