State Regulation and Self-Regulatory Mechanisms in a Market Economy

Abstract

Analysis of the economic dynamics of the developed countries following World War II, especially of newly industrial states, shows that there is a direct dependence between state economic policy and the level of development of market relations: the more developed market relations are, the stronger is the state's influence on the development and organization of market mechanisms and regulators. It is specifically the state that creates conditions for the development of the principles of a market economy: free enterprise and fair competition.