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A new paradigm of economic regulation

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  • Nikolai Svetlov

    (Moscow Timiryazev Agricultural Academy)

Abstract

Current 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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File URL: http://128.118.178.162/eps/get/papers/0307/0307005.pdf
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Bibliographic Info

Paper provided by EconWPA in its series General Economics and Teaching with number 0307005.

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Date of creation: 04 Jul 2003
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Handle: RePEc:wpa:wuwpgt:0307005

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Web page: http://128.118.178.162

Related research

Keywords: regulation; long-term aims; preferences; market information; value; sustainable development;

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  1. 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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