Language is a complex phenomenon. It is a means of human communication and is in constant development. Changes in the modern world are reflected in a change in the structure of the language. As a social phenomenon, it is directly dependent on the level of development of society.The social and social nature of the language is manifested in phonetics, vocabulary, morphology, as well as stylistic and syntactic constructions.
The development of science, technology, the growth of productive forces and much more is directly reflected in the language.However, the history of the language shows that many of its phenomena are due to the internal laws of its development.The language is in a state of continuous development, which implies certain language processes, including the process of creating new lexical units. The ability to develop is a natural way of social existence of this system. One of the very socially significant and living phenomena that occurs in the Russian language is the process of using new words that reflect the current situation. Words that characterize new objects or phenomena are called neologisms.
Neologisms (from the Greek neo - «new», logos – «word») are words that are new lexical units only for a given historical period, and have their own specific lifespan in this capacity. It becomes clear that this concept is variable and relative: the word is neologism, as long as people feel the novelty in it. In recent years, the number of neologisms in one way or another connected with the Internet and the latest technologies has been increasing. For example, to indicate companies operating on the Web, the word dotcomsappeared, which is also written in two words - dot coms and the hyphen dot-coms. The word dotcom is used as a noun and as an adjective. 
In connection with the phenomenon of globalization, a number of neologisms appeared in the English language, such as glocalization (creation of goods and services for a globalized market, taking into account the peculiarities of national culture), globophobe (an opponent of globalization), globophobic (relating to opponents of globalization), globophobia (negative attitude to globalization) and globality (globalized interconnected economy).
A large number of neologisms appear in business that reflect new realities, especially in management and marketing, such as the ghost brand (a famous trademark in the past, goods under which are still sold, but are not popular), mass customization (individualization of goods or services produced in large quantities), to kitchen-sink (to publicize all information about the poor financial situation of the company), barn-raising (attracting employees from different departments of the company to solve the problem), brandstorming (or “development of a new strateg and in relation to the brand "or" competition for the best name for the new brand name). 
In the word-formation system of modern English, the following methods for the formation of neologisms are distinguished .
- Affixation (prefixation and suffixation). The word-building structure of the newly formed word assumes the presence of three obligatory components: the root or the base, the affix and the model by which the affix is attached to the generating base.
- Conversion is a word-formation method in which new words arise without changing the basic form of the original word.
- Composition, for example: brainwork, browbeat, handshake, job-hunt.
- Reduction is the process of reducing the number of phonemes in words or phrases available in a language without changing their lexicographic meaning (category).
- Inverse word-formation (reversion) is the formation of new words by cutting off the word-forming element of the original word. So, the verbs to beg, to edit, to perk were obtained from the corresponding nouns beggar, editor, percolator.
- Onomatopoeia (onomatopoeia) is the creation of such words, the sound form of which to one degree or another resembles designated objects or phenomena, for example: bounce, bump, buzz, hiss, mumble, smash, twitter.
- Repeat (reduction) is a way of forming new words by completely or partially repeating the root or base of the original word without changing or partially changing their sound composition, for example: bye-bye, clop-clop, helter-skelter, hurly-burly, zig-zag.
- The alternation of sounds, the transfer of stress in a word is a way of word formation, in which the phonetic composition of the word changes and a new word is formed, which belongs to another lexical and grammatical group. For example, the following pairs of words: food (n) - feed (v); life (n) - live (v); song - sing (v).
Neologisms are classified into:
1) neologisms proper (the novelty of the form is combined with the novelty of the content): audiotyping (audio printing); bio-computer (a computer that simulates the nervous system of living organisms); thought-processor (a computer that logically builds and develops ideas);
2) transnominations combining the novelty of the word form with the meaning already transmitted earlier by another form: sudser-soap opera;
3) semantic innovation, or rethinking (a new meaning is indicated by the form already available in the language): bread-money; drag-boredom.
Many languages borrow English words, here are some reasons for this borrowing:
1) the need for the name of new objects and phenomena: inflation, business, etc.
2) the need for specialized concepts: marketing, management, etc.
3) the presence in international use of the existing systems of economic terms based on the English language: landing, roll-over.
4) the desire for a more modern word.
Economic science is a broad field of knowledge, which, in addition to laws and concepts of economic activity, is also connected with a number of related industries. Themes of foreign origin very often form thematic groups, among which there are:
1) names of the types of commercial activities and various economic programs: outplacement (part of the support program for laid-off employees), outsourcing (using an external organization to process financial data in commercial transactions), outright (forward exchange currency transaction).
2) names of private and state structures: concern (voluntary association of enterprises engaged in joint activities), consulting (advising on a wide range of issues of economic activity)
3) names of persons of economic activity: jobber (stock market speculator), outsider (stock market speculator non-professional)
4) names of new professions that determine the formation of a new model of the economy: PR manager (specialist in public relations), realtor (real estate agent). 
Before a foreign language word enters any language, it must undergo a series of changes in its native language. In English, some basic models should be noted:
1) Neologisms, which are formed on the basis of word-building suffixes or prefixes (for example, suffixes –tion, -ism for nouns; -ize for verbs; prefix –de, etc.)
2) Neologisms obtained in the process of acquiring and rethinking the existing concept of a new meaning. (For example, empowerment, to codify, skyscraper.)
3) Neologisms, formed on the basis of word-formation methods of the English language, by the method of addition of foundations, words: outsourcing, copyrighting, globalization.
4) A certain number of neologisms are formed by transforming the syntactic role of words. (For example, to amazon, to text, to patent, to version, etc.)
5) Neologisms that are formed by truncating words: VAT, OTP, PC, GNP.
6) Often there are neologisms that are euphemisms, words that replace these words or expressions with more appropriate ones. 
There are a number of Anglicisms that vary in degree of novelty :
1) absolute neologisms: average, aval;
2) words of relative magnitude demanded by society in connection with communicative relevance: privatization, realtor, stock, cashback.
3) neologisms that were originally associated with capitalist society: business, broker.
Thus, English neologisms occupy a special place in modern society, which is due to the development of socio-economic ties and intercultural communication in the world. Global processes of modernization of the scientific and technical base also contribute to the intensification of the interaction of languages.
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3) Educational portal [Electronic resource]. URL: https://studfile.net/preview/5357086/page:3/
4) Ilyina AN, Kibasova SG. Word formation in modern English. St. Petersburg: SPbSUEF, 2012.