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(In)Visible Hand(s)

Author

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  • Predrag Zima

    (University of Osijek)

Abstract

In this paper, the author discusses the regulatory role of the state and legal norms, in market economy, especially in so-called transition countries. Legal policy, and other questions of the state and free market economy are here closely connected, because the state must ensure with legal norms that economic processes are not interrupted: only the state can establish the legal basis for a market economy. The free market’s invisible hand is acting in questions such as: what is to be produced, how much is to be produced, for whom it is to be produced, how it is to be produced. During the transition period but also in the establishnig EU, the role of legal norms is much more important then it (is) would be expected: problems of transition are more connected with ethics and psychology, then with legislation.

Suggested Citation

  • Predrag Zima, 2007. "(In)Visible Hand(s)," Interdisciplinary Management Research, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 3, pages 449-466.
    • Handle: RePEc:osi:journl:v:3:y:2007:p:449-466
    as

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    References listed on IDEAS

    as
    1. Gourevitch, Peter, 1978. "The second image reversed: the international sources of domestic politics," International Organization, Cambridge University Press, vol. 32(4), pages 881-912, October.
    2. Daniel Cohen, 1998. "The Wealth of the World and the Poverty of Nations," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262032538, December.
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