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Freedom and regulatory intervention in the functioning of the economic system

Author

Listed:
  • Ion Popescu

    (Dimitrie Cantemir Christian University, Faculty of Tourism and Commercial Management, Bucharest, Romania)

  • Doinita Liliana Popescu

    (Dimitrie Cantemir Christian University, Faculty of Tourism and Commercial Management, Bucharest, Romania)

Abstract

Many specialists consider that at the base of the existing depression there is an improperly regulated financial system that points out severe weaknesses of the new liberalism. The existing world financial depression, especially its control points out the recurrent idea of the government intervention in order to provide the economic policies with more reason and pragmatism. That is why, among the contemporary economic mechanisms, there is a periodical change of the government intervention amplitude under the circumstances of maintaining the essential role of the market forces in resource allocation and stimulation of the entrepreneurial spirit. The essay points out some conclusions: non-existence of some economic “pure” systems; free market; pure and perfect market which is a fiction; the mixed economy in the modern meaning, the economy based on reality, which represents the real economic system where the mechanisms of the free market intermingle with the regulatory measures which refer to the state intervention in the economy.

Suggested Citation

  • Ion Popescu & Doinita Liliana Popescu, 2010. "Freedom and regulatory intervention in the functioning of the economic system," The Annals of Dimitrie Cantemir Christian University. Economy, Commerce and Tourism Series, Faculty of Management in Tourism and Commerce Bucharest, "Dimitrie Cantemir" Christian University, Bucharest, Romania, vol. 2(1), pages 89-95, June.
    • Handle: RePEc:dcc:adcect:v:2:y:2010:i:1:p:89-95
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    More about this item

    Keywords

    free market; mixed and command economy; economic performances; theoretical pattern of market economy; new liberalism;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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