A new paradigm of economic regulation
General Economics and Teaching from EconWPA
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)
Note: Type of Document - PDF; prepared on IBM PC; to print on HP;
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpgt:0307005
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