The book develops the theory of institutional changes and presents a new direction of economic analysis: the institutional macroeconomics. The author develops the concept of economic dysfunction and applies it to the description of economic growth problems, offers a model of competition between agents within the “innovator-conservative” system, corrects the
doctrine of “creative destruction”, offers a model of institutional change based on the effect of the chessboard, with the resulting conclusions from the change in criteria for public well-being that are not fair in terms of institutional change. In addition, the monograph develops a system of axioms for the theory of economic systems efficiency, and proposes a system to assess the economic efficiency of system dysfunction, using the methods of the theory of reliability. The author analyzes the problems of the evolution of technical and financial systems and economies, showing a gap
at the level of the fundamental principles of their joint development.