The theoretical level of economic judgment and the current state of economic science

Abstract

The paper is regarded as the economic theory of the generalized system of knowledge, describing and explaining the economic reality, and general economic theory as a verbal model of the economic system as a whole. The need for a general theory of the economy generated practical needs. Formation of economic theory is based on the generalized abstract concept, which gives the opportunity to operate formalized values. The cost is a basic abstract category, with various interpretations, which connected contemporary issues of the world economy and the international monetary system.