Causes of the mismatch between modern economic theory and digital transformation

  • Said S. Gulyamov Tashkent State University of Law
  • Saidakhror S. Gulyamov Kimyo International University in Tashkent
  • Akram O. Ochilov Karshi State University
Keywords: paradigmatic vacuum, feedback loops, economic theory, technological metabolism

Abstract

Modern economic science has entered a state of “paradigmatic vacuum.” Traditional 20th-century theories (neoclassical, Keynesian, etc.) are unable to explain the digital reality of 2025, characterized by near-zero marginal costs and algorithmic monopolies. This paper proposes a cybernetic-economic model to bridge this gap. Using the concept of “feedback loops,” we aim to integrate fragmented economic theories into a unified diagnostic framework. Stability in the digital age requires the design of “dampers” (balancing mechanisms) to manage the rapid technological metabolism of the economy and society.

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Author Biographies

Said S. Gulyamov, Tashkent State University of Law

Doctor of Law, Professor, Head of the Department of Cyber Law

Address: 35, st. Sayilgokh, Tashkent, 100047, Republic of Uzbekistan

E-mail: Said.gulyamov1976@gmail.com

https://orcid.org/0000-0002-2299-2122

Saidakhror S. Gulyamov, Kimyo International University in Tashkent

Honored Scientist of the Republic of Uzbekistan, Academician of the Academy of Sciences of the Republic of Uzbekistan, Doctor of Economic Sciences, Professor
Address: 156, Shota Rustaveli Street, Tashkent, 100121, Republic of Uzbekistan
E-mail: s.gulyamov@kiut.uz
https://orcid.org/0009-0006-9594-8516

Akram O. Ochilov, Karshi State University

Academician of the Turan Academy of Sciences, Doctor of Economics, Professor, Head of the Department «Economics»

Address: Republic of Uzbekistan, 180119, Kashkadarya region, Karshi, Kuchabog street, 17
E-mail: akram.oo@mail.ru

https://orcid.org/0009-0004-9254-188X

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Published
2026-02-15
How to Cite
Gulyamov, S. S., Gulyamov, S. S., & Ochilov, A. O. (2026). Causes of the mismatch between modern economic theory and digital transformation. In the Center of Economy, 7(1). Retrieved from https://vcec.ru/index.php/vcec/article/view/177
Issue
Vol. 7 No. 1 (2026): In the Center of Economy
Section
Information technology in the economy
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