The Evolution of Theories of the State Regulatory Policy

Abstract

The article is concerned with an analysis and a generalization of the evolution of theories of the State regulation in terms of the dominant ideology of scale, intensity and depth of the State intervention in the market economy, with its methodology and implementation. The State regulatory economic policy is designed to define and implement the most important measures, which from the point of view of society will be aimed at improving the economic situation in the country as a whole. It is important to specify that the State, the State authorities and local self-government bodies are not economic entities. At the same time they have real levers of influence on all participants of the economic legal relations. A comparative analysis of the regulatory policy theories was carried out. The principles of the regulatory policy observed during the evolution of the State regulatory policy have been generalized. The main problems and ways of development of the State regulatory policy, observed in XXIst century, are defined.

Keywords

• State regulatory policy
• mercantilists school
• physiocrats
• neoclassical school
• keynesianism
• monetarists school
• institutional school and the theory of rational expectations