Assessment of the need and advantages of state intervention in the economy in the conditions of market economy

Abstract

National Leader Heydar Aliyev, the architect of independent state building in Azerbaijan, laid the foundations of the state regulation system that meets modern requirements in the economy, and in a complex situation, he formed an efficient state mechanism based on market economy principles which is completely different from the administrative-emirate system. Independent state-building in Azerbaijan, its implementation based on the principles of market economy and the transformation of our country into an equal member of the system of international relations set very important and completely new tasks for the economy of our republic, including the system of regulating foreign economic relations. In modern times, state regulation of the economy is not denied in any civilized country. The free market economy is not capable of solving all the social and economic problems of modern society, therefore the state's intervention in the economy becomes necessary in areas that the market economy cannot regulate. World experience shows that the state plays a decisive role in ensuring the normal functioning of every economic system. It can be said that in almost all countries, the state has the capacity to influence economic and social development to a great extent. The article focuses on the study of these and other issues.