BEYOND EFFICIENCY: ECONOMICS AS A HUMAN-CENTERED PRACTICE IN THE DIGITAL ERA

Абстракт

This paper explores the transformation of economics in the context of digitalization and the paradigm shift from Industry 4.0 to Industry 5.0. It argues that the conventional neoclassical economic models, based on rational behavior and efficiency maximization, are increasingly inadequate in a world shaped by artificial intelligence, platform economies, and algorithmic governance. The article proposes a human-centered, interdisciplinary economic framework that integrates ethical, institutional, and technological considerations. The economist’s role is redefined from a neutral analyst to a strategic mediator capable of designing sustainable and inclusive socio-technical systems. By analyzing shifts in agricultural economics, finance, and macroeconomics, the paper illustrates how digital infrastructures challenge traditional economic categories like value, trust, and sovereignty. Moreover, it calls for a radical transformation of economic education- moving beyond abstract modeling to include critical thinking, system dynamics, and moral reasoning. Economic knowledge must now serve as a tool not only for optimization but for envisioning and implementing just and adaptive institutional arrangements. In the digital era, economics is no longer a detached discipline but a transformative practice with the potential to shape futures. If economists fail to embrace this new ethical and visionary role, economic governance may be overtaken by opaque technological systems that erode democratic accountability and social cohesion.