Yerevan /Mediamax/. Chairman of the Board of “Troyka Dialogue” Ruben Vardanyan thinks that the value system and evaluation of assets within the world economy are being transformed.

“We should admit that formal and non-formal systems of checks and balances operating today have got out of balance. Today, all the systems, political, economic, moral and cultural, should be seriously revised. In the developed Western countries an individual’s personal right of determining his actions prevails over the public opinion. The only mechanism left in the world which works (not always, though) is legal rules and laws. They should also be seriously reconsidered”, said Ruben Vardanyan in the interview published today in “Kommersant” newspaper.

\'\'There are two scenarios: the first one is the crisis acceleration in current systems. Everybody starts to understand that crisis calls for changes. It\'s a time for making decisions, painful and sometimes very hard ones, entailing cataclysms for today\'s elite. The second scenario is to cut off the disease avoiding tough decisions. That\'s what has happened over the recent 20 years in Japan. The problem is rooted in the society rather than in the economy there: the Japanese are undergoing conflict between the internal reality of the country and values of former generations which have been built up over millennia\'\', said the head of “Troyka Dialogue”.

Ruben Vardanyan noted that “globalization has already cost very expensive”.

“At the same time, no matter what is spoken, America and Western Europe are still dominating though the situation is rapidly changing. It is indisputable that everything may change provoking a formation of a new financial system. Again we may exchange a kilogram of salt for a kilogram of sugar, then for wheat or concrete. Gold may even become the new currency. That’s not important. A new means of calculations will be created and the old currencies will rapidly depreciate”, said Ruben Vardanyan.

He also stressed that the number of the tools applied for regulating the economy is limited.

\'\'Those who can print a lot of money print how much they can. Those who are able to throw the debts on the future generation are busy doing that. Those who cannot do anything are trying to borrow from others. There is an actual price for the goods of first priority and there is a price for raw material, production and services. The value system and evaluation of assets are being transformed now. Why do we think that the financial world should remain the same whereas the technological world has dramatically changed over the 20 years? Everything is interrelated. We are going to face a change of the world system. The thing is which dominants will be accepted in that system, including the quantity of money. When I started my business there were rare billionaires in the world and now this status is being endlessly devaluated\'\', said the head of \'\'Troyka Dialogue\'\'.