Biosocial Economy as a Mechanism for Transition to Sustainable Development

The theories and concepts of bio-economy, ecology-friendly economy, green economy, neo-economy are known as those that pronounce modern approaches of sustainable development of the world’s economies. They also attempt to suggest the mechanisms of transition to new principles of production, consumption and distribution. This quest is determined by a number of factors and is emphasised by unemployment and population growth, accelerated appearance and growth of new technologies, climate change, etc. At the same time one needs to keep in mind security restrictions (e.g. energy and food security). This study attempts to scientifically interconnect the abovementioned concepts and arrive at a unified understanding of the transformations that are occurring in economy. We also aim to define the role and place of the biosocial economy in the current world processes. In this study, biosocial economy was identified as a mechanism for sustainable development implementation. In the process, we outlined the key features of biosocial economy formation and main differences with other approaches.