Globalization
& Business

JEL Classifications: B30, O47, P16

MODERN ASPECTS OF CONVERGENCE THEORY

Full Text

For Citation: Kharitonashvili, J., (2021). Modern Aspects of Convergence Theory. Globalization and Business. 12, 57-60. https://doi.org/10.35945/gb.2021.12.007

Abstract

In the 50s and 60s of the twentieth century, when a proper parity was established in the economic rivalry between the capitalist and socialist systems, the economists and sociologists in the bourgeois reformist current formulated the theory of convergence (“convergence” comes from Latin convergere - from con- ‘together’ + vergere - ‘incline’). Convergence implies to merge, to bring two different socio-economic systems (capitalism and communism) together and to create a common techno-industrial system. Convergence involves similarity and integration of some characteristic features of different social and political systems and their structures, which gradually become similar and by means of interrelationship, cooperation and mutual understanding overcome the obstacles and acquire common character and become especially active in the conditions of scientific and technical development, internationalization and globalization until they create a new type, mixed, i.e. hybrid society, which includes the positive features of both capitalism and socialism.  The global problems common to all mankind must be solved according to the above said.

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