Economic problem of long-term development

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Ivane Javakhishvili Tbilisi State University Press
The theory and practices of long-term development is a crucial subject matter in modern economics. The level of knowledge is a principal boundary between the present and future stances of the economy, and at the same time it is also a bridge. Until sufficient amount of knowledge is accumulated, future is mainly uncertain, and to make this better a bridge needs to be built or, in other words, knowledge needs to be accumulated. Only after meeting the basic needs of the society will we be able to move to a new phase: redirecting our efforts towards genuine interests and challenges. Social consistent pattern is that society as a whole is late to achieve what certain individual have already attained.
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welfare, long-term development, optimality criteria, research and development, practic and heuristics
VI International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2021, pp. 481-489