Social Legacy of M. I. Tugan-Baranovsky and the Present Day

Mikhail Ivanovich Tugan-Baranovsky was a prominent scientist — economist, who made a significant contribution to the formation of political economy as a scientific discipline. One of the first to identify the dualistic nature of economic theory, which can be assessed adequately only from the problematic positions of today. His social heritage is not sufficiently studied. There are good reasons to give it priority in the study of causal-functional relationships that influence the development of theoretical research. His prediction is coming true that political economy will partly transform into a theory of economic policy, and partly become part of a more general science of society-sociology and ethics. In this regard, it is particularly interesting, to study the possibility of applying various forms of ethical management, which has its roots in the work of M. I. Tu gan-Baranovsky and his famous predecessor A. Smith, taking into account the current stage of economic reform. Tugan Baranovsky’s work on de fining the ethical foundations of economic theory, which is duly underestimated, but acquires positive value in the sphere of economic interests and in modern social development. A scientific novelty is an attempt to systematically highlight and analyze the social heritage of M. I. Tugan-Baranovsky, where for the first time priority is given to the ethical aspects of economic policy formation, the issues of adhering to ethical principles in enterprise and business management, and the influence of ethical factors on political economy and the theory of economic welfare. Research methods: the logicalanalytical method of deduction was used based on the method of task implementation.