A new world economic order: history, theory and directions of development

Abstract

The article substantiates an objective need to form a new world economic order. The authors elaborate conceptual foundations and directions of its development. They conclude that the emerging new world economic order means profound restructuring of all economic sectors and offer recommendations regarding the reforms of international financial institutions and restrictions of speculative operations on the financial market. The authors put forth a list of standards on disclosure of financial and economic information for state regulators and potential investors and service consumers that should be included in the system of new economic order. The authors further elaborate the idea of transition to a single global currency.