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A new paradigm of economic regulation

Author

Listed:
  • 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.

Suggested Citation

  • Nikolai Svetlov, 2003. "A new paradigm of economic regulation," General Economics and Teaching 0307005, EconWPA.
  • Handle: RePEc:wpa:wuwpgt:0307005 Note: Type of Document - PDF; prepared on IBM PC; to print on HP;
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    File URL: http://econwpa.repec.org/eps/get/papers/0307/0307005.pdf
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    References listed on IDEAS

    as
    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.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

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

    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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