Abstract: The theoretical basis and evolutionary mechanism of the spherical spiral model in the context of investment theory are investigated, and the influence of scientific trends and scientific schools, where ideas are determined by economic thought taking into account financial innovations, is considered. The spherical model of spiral development is presented as an adequate reflection of the evolution of investment theory. Special attention is paid to the logical regularities of the spiral model of the evolution of investment theory.

An analysis of the historical stages of the development of economic schools in investment theory is presented: from antiquity through the mercantilism of the physiocrats to the classics. The evolution of the neoclassical school Keynesianism and its modern variation — neoKeynesianism, are considered. Relevant methods and theoretical developments of the modern stage of the development of investment theory in the conditions of transformational processes, taking into account practice in market realities, are identified. Rethinking classical ideas about investments demonstrates that the hypothesis of efficient market mechanisms is subject to criticism against the background of the development of behavioral economics and new theoretical theories; it emphasizes the psychological aspects of investors and dynamic market processes. The 21st century was marked by the introduction of artificial intelligence and machine learning into investment practice, which poses the question of optimizing decisions taking into account complex global development conditions. Innovations in the field of investment involve the improvement of traditional quantitative methods, opening up horizons for the analysis and forecasting of the behavior of financial markets. The study emphasized the significance of investment theory as an effective tool for stimulating economic processes, confirming the effectiveness of the development of economic schools in world science.