Ambivalent Economic Stability. Sustainability vs. Resilience

DOI: 10.33917/es-4.196.2024.90-97

The author addressed the topic of comparing the meanings of the terms “sustainability” and “resilience” due to the fact that both these terms are used in economic literature, and at the same time they are both translated into Russian as “sustainability”, which sometimes causes incorrect understanding of the meaning of certain texts. The article dwells on genesis and areas of application of these terms, it is noted that the frequency of applying the word “resilience” has increased significantly in recent years. At the same time, a generally accepted definition of this term has not yet been developed, at least in its economic application. The same is referred to the term “sustainability”. Disadvantages of each of the terms are listed and debate on the priority of one term over another is considered. The author briefly discussed the use of terms in the current context of the Russian economy. It is concluded that while in terms of “resilience” the domestic economy has demonstrated visible success, then in terms of “sustainability” prospects there are serious problems.

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