THE STATE AND THE MARKET AS SOURCES OF WELFARE - THROUGH THE PRISM OF ECONOMIC THEORIES

Ayshe Ismetova Avdikova
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Ayshe Ismetova Avdikova: SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD

Economics and Management, 2016, vol. 12, issue 1, 45-50

Abstract: Overcoming the current social challenges are facing our country, more and more clearly stands out the importance of pursuance of an effective social policy. This article attempts to analyze the concepts of the three great representatives of economic theory- Smith, Marx and Keynes, drawing three different way to solve social problems at the root of which is the different ratio between the participation of the state and the market in providing the welfare of the public. The conclusion is that the construction of a successful social platform requires is not to adherence to a particular theory, but in marking a comprehensive framework of principles that preserve the advantages and overcome the shortcomings of the final options. And all of this is in accordance with the characteristics of rapidly transforming socio-economic reality.

Keywords: socialpolicy; welfare; liberalism; free market; state intervention; regulated market (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:neo:journl:v:12:y:2016:i:1:p:45-50

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