Economics of sustainable development (problems and prospects of formation)

The present study examines the coming crisis of economic science, which does not correspond to the changes taking place in the world economy. Economic concepts based on gross domestic product calculation cannot adequately reflect the ever-increasing impact of environmental and social factors on the life of society. Scientific centers in Western countries are intensively working on creation of indices that take into account the changes in the environment and their economic consequences, as well as their impact on the quality of life of the population. These studies show how urgent is the need for the transition of economic science from the concept of GDP to the socio-economic one. Sustainable development indices developed by leading research centers reveal the contours of a new, green economic science. The authors think it expedient to apply new tools with regard to contemporary Russian realia.