Subject In the 20th century, the most advanced nations saw the origination of governmental monopolies and respective economies around them, which pursue to gain control over resources worldwide. Liberalism became one of the effective tools to reach the goal for the political and social development of nations and macroeconomic governance, which underlies the very concept of national accounts. Objectives We examine the substance, key properties of the existing system of national accounts, its weaknesses and genuine purpose for supra-national oligarchic elites. Methods Drawing upon the actual macroeconomic analysis, we unfold sources of so significant technological and socio-economic advancement that the Western countries demonstrate through, inter alia, statistical manipulations. The article also analyzed what genuine goals modern interpretations of macroeconomic processes pursue. Results The article clarifies the current economic policy of the Russian government, analyzes challenging aspects of the effective model and describes the substance of economic liberalism, unveiling its negative effect on originating tendencies of economic growth and its role in undermining the fundamental philosophy of the Russian society. Conclusions and Relevance Invigorating in the society, modern liberalism in economic policy will, first of all, bring the national economy into the realms of the global financial empire, thus unavoidably making Russia dependent on the Western countries.
Keywords: national accounts, economic liberalism, macroeconomics, welfare State, institutionalism
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