THE EVOLUTION OF THE REGULATORY FUNCTION OF THE STATE IN THE ECONOMY AND THE INVISIBLE HAND OF THE MARKET

Authors

Keywords
economy; market; state; the invisible hand.

Abstract
The paper presents the evolution of economic thought from its birth in ancient Eastern societies till present day, in terms of different approaches to property; the need of laws; state intervention and regulations. We review major economic theories within the historical context in which they appeared to arrive at arguments in favour of or against state intervention in the economy of a nation, in contrast to the effects produced by the invisible hand of the market.

JEL: F00
Pages: 17

To view the full text of the article click on the relevant button below.

More titles

  • HE ROLE OF FUNERAL DIRECTOR

    In general, the public not only in the UK, but in the world, has very limited knowledge of the funeral industry, yet feels easy to criticize it or judge the ones employed, and associateted with the funeral industry. Unknown but, nevertheless, inherently stigmatized role of the funeral director is investigated. Identifying managerial issues in ...

  • ASPECTS OF RATIONAL BEHAVIOUR IN ORGANISATIONAL MANAGEMENT

    The paper deals with the specific features of some behavioural aspects of organizational management. It offers a slightly different interpretation by focusing on rational behaviour, which, in our opinion, is a major factor and a key driver of more efficient communication and management. ...

  • THE SYMBIOSIS BETWEEN INTEGRATED DISTRIBUTION SYSTEMS AND CONTEMPORARY INFORMATION TECHNOLOGIES

    Distribution systems as we know them today are the result of their interaction with business environment factors and information technologies. Based on the conceptual characteristics of integrated distribution systems and the role of information technologies to their development, this paper aims to present a new concept about the relationship ...