The global economy is facing an extreme pressure due to a disturbing effects of a variety of geopolitical, economic, social, environmental, and political challenges. The recurrent problems of poverty and income inequality between and within countries, food insecurity and hunger, and unemployment and social disorders have resulted in the exacerbation of economic, trade, political, and even military tensions in many parts of the world. The new normal economic reality makes markets and value chains increasingly unstable, while governments try to compensate for the decline in the policy performance by strengthening administrative regulations in all spheres of life. The new highly volatile global environment calls for a comprehensive analysis of multidimensional contributing factors to be able to get the economy back on track of stable and resilient development. This Special Issue aims to probe into investigation of the approaches to rethinking of economic development policies in light of the contemporary challenges to resilience of markets and institutions, as well as explore possible solutions to adjusting the interpretations of sustainable economic development to the ongoing economic and social transformations. Both theoretical and practical contributions that focus on the topics related to economic and social development are encouraged.