A new paradigm of economic regulation
AbstractCurrent regulating policies are aimed at eliminating negative effect of market failures and at controlling macroeconomic stability, but they do not sufficiently facilitate long-term aims of human being. A method of soft economic regulation making use of endogenous nature of preferences is suggested that is aimed at eliminating risks of terminating being of a civilised society in a long-run outlook. The key element of this method is informational control actions, in particular disseminating information about admissible values of strategical commodities, allowing a society to form such preferences of its members that conform the global economic efficiency criterion based on the con-cept of sustainable development.
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Bibliographic InfoPaper provided by EconWPA in its series General Economics and Teaching with number 0307005.
Date of creation: 04 Jul 2003
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regulation; long-term aims; preferences; market information; value; sustainable development;
Find related papers by JEL classification:
- A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
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- Coase, R H, 1988. "The Nature of the Firm: Origin," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 3-17, Spring.
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