A new paradigm of economic regulation

Nikolai Svetlov ()

General Economics and Teaching from EconWPA

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.

Keywords: regulation; long-term aims; preferences; market information; value; sustainable development (search for similar items in EconPapers)
JEL-codes: A11 A13 I18 (search for similar items in EconPapers)
Date: 2003-07-04
Note: Type of Document - PDF; prepared on IBM PC; to print on HP;
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpgt:0307005

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