Noonomics as a scientific theory: Key postulates and implications

Abstract

Scientific economic discourse holds a certain pool of theories and concepts, which are now considered generally accepted. They rely on a developed evidence base, have passed through several stages, and have mature schools of thought. Yet as we can see from the history of economic thought, during their genesis these theories were not always connoted and contextualized unambiguously. Perhaps at present we are witnessing the formation of a new scientific theory – noonomics. The paper aims to study its essence, basic characteristics and postulates and to prove that it belongs to the modern stage in the development of the theories of economic dynamics and stadiality in economic processes. These theories constitute the methodological basis of the research. The methods include systematisation and generalisation used to reveal the key propositions of the theories of economic cycles and dynamics; logical structural analysis and causal analysis to track the evolution of the foundations underlying the theories of technological development; the method of particularising to describe the essence of noonomics. The paper identifies the relevant characteristics of the theories of economic dynamics and stadiality of economic processes and examines noonomics in the context of the said theories. The research confirms the scientific foundations of this concept. The results contribute to the understanding of a transition to the next stage in the economy and society’s technological development by extending the boundaries of the theories of economic dynamics.

Keywords

• noonomics
• industrialisation
• technological paradigm
• technologies
• industrial revolution
• economic theory