Bayzakov Saylau Bayzakovich, research supervisor of Institute of economic researches, Doctor of Economics, professor, academician of the International academy of management, academician of the International academy of informatization
Mukhanov Maksat Nurdauletovi, president of JSC Institute of Economic Researches, corresponding member of the Russian academy of natural sciences
The authors support the ideas of scientific report by O.L. Kuznetsov and B.E. Bolshakov maintaining issues of sustainable development of globalizing world and offer a solution to a specific problem of measuring economic growth and changes in the prices of goods and services; the article also provides the principles of building a new model of the purchasing power of money.
KEYWORDS: purchasing power of money, model, governance, sustainable development, the GDP deflator, the price index, inflation, real GDP, nominal GDP, added value, economic growth, principle of reciprocity, transitivity, balance, productivity.