On a constructive economic policy of Government (authorities) in crisis

Valentin Zavadnikov
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Valentin Zavadnikov: Russian Presidential Academy of National Economy and Public Administration

Ekonomicheskaya Politika / Economic Policy, 2009, vol. 2, 5-11

Abstract: The essence of the financial and economic crisis is that in times of crisis are identified and eliminated errors in the investment decisions of economic agents, financial and economic imbalances that have accumulated during the previous boom period. The economy out of the crisis and goes to good growth only after the previous erroneous projects stopped, disparities are eliminated and resources redirected to those areas where their use is most effectively serves the needs of consumers. In this sense, the crisis is objectively inevitable and necessary process of economic adjustment, performing a useful economic function. "Fighting" with him as meaningless (and even harmful), how to deal with the immune system during a flu. It is necessary to create conditions for a speedy "recovery", and thus the main condition is to reduce inefficient costs in the economy.

Keywords: crisis; economy; authority; government (search for similar items in EconPapers)
Date: 2009
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