The Economy and the State

Turystyka i Rozwój Regionalny, 2018

The debate over the role of the state in the economy reaches the times when the science of economics has emerged. While the economic activities of the state are inevitable especially in times of crisis, these activities have always been criticized in terms of side effects other than affecting the crisis. This study examines the work done in the literature in terms of public sector size and the failures in economic activities. The reasons for the economic borders of the state, especially under the view of the liberal state, are the most prominent points in the study.

Problems of Economic Transition, 1994

Journal of Research and Opinion, 2019

The government plays some significant role when it comes to functions she performs upon which she exercises public policies. Public policies are the cogent mixture of legislation with politically prioritized ideas with which broad policy directive statements are made, which are directed at civil service and public agencies from time to time for implementation, to enhance adequate socioeconomic and market stability which was aimed at the productivity of output. The lives of individuals and that of business organizations are affected every day by policies instituted by governments, political organizations, social organizations, labour groups, educational institutions, labour groups, service organizations, communities and even religious organizations such as churches in the exercise of their functions. Our preoccupation in this study is to look at the functions or role of the government as it affects the economic lives of the citizens of a nation. The pronouncements or policies of all these institutions affect man's life in every ramification especially the economic lives of people. Any time a political or military government decides to continue with an existing public policy of its predecessor, in her bid to carry out these functions, then the functions have to key into the public policy. A mere look at these functions tells one that there is the need for the pronouncement of such public policy statement to keep the actors and the general public (citizens) informed to enlighten everyone to play his part in achieving the desired goal of government. Hence, it is our major objective to look at the reasons for such statements and to bring to the fore the divergent roles of government which permits them to issue such public statements, and their implementations. We observed that every sphere of the lives of the citizenry is touched by the government over her policies. The government has many roles to perform in an economy. The government spends and makes money, consumes goods and services, creates goods and services, creates jobs and employ people. The Federal, state, and local governments raise funds directly through taxes, levies, fines, fees, etc. to enable her to carry out her functions in the economy. These areas include the maintenance of peace, law and order, defence and security, the regulation of certain sectors of the economy through public policy statements especially that of petroleum oil (mining sector), the agricultural sector, and the industrial and manufacturing sector, and more especially with the budget etc. with diverse policies which included that of the development plans, social distributive justice, progressive taxation, efficient utilization of resources. participation in crises resolution during a financial or economic crisis, maintenance of price stability and ceiling, Control of inflation, Stoppage of black marketing especially in crude or petroleum bunkering, maintenance of law and order especially during periods of political disorder, crises or chaos. In the final analysis, it was established that government plays various roles in the state among those roles. It is recommended that public policies should be firm, enduring and enacted in the true spirit of patriotism, for truly developmental in nature and should bring about economic development and growth.

Journal of Economic Studies, 1999

This paper attempts to trace and describe the role played by the government sector ± the state ± in promoting economic growth in Western societies since the Renaissance. One important conclusion is that the antagonism between state and market, which has characterised the twentieth century, is a relatively new phenomenon. Since the Renaissance one very important task of the state has been to create well-functioning markets by providing a legal framework, standards, credit, physical infrastructure and ± if necessary ± to function temporarily as an entrepreneur of last resort. Early economists were acutely aware that national markets did not occur spontaneously, and they used``modern'' ideas like synergies, increasing returns, and innovation theory when arguing for the right kind of government policy. In fact, mercantilist economics saw it as a main task to extend the synergetic economic effects observed within cities to the territory of a nation-state. The paper argues that the classical Anglo-Saxon tradition in economics ± fundamentally focused on barter and distribution, rather than on production and knowledge ± systematically fails to grasp these wider issues in economic development, and it brings in and discusses the role played by the state in alternative traditions of non-equilibrium economics.

with Richard D, Auster. Martinus NIjhoff 1979

Advances in Public Policy and Administration, 2018

This essay is a critical assessment of the market failure theory and public choice theory. While the market failure theory provides a justification for government intervention in the economy, the public choice theorists are very skeptical about the role of government as a corrector of market failures. Since government failures can be worse than market failures, the imperfections in the market process, they argue, do not necessarily call for government intervention. These two theoretical perspectives, notwithstanding their difference, do share something in common. Both assume that individuals are self-interested. This essay contends that a shift from rational self-interested behavior to bounded-rational behavior provides a less contested role for the government. With bounded-rational behavior, the state should no longer be viewed as a mere surrogate of the market, but as “a choice architect,” “an entrepreneur,” and “a manager of conflict.”

2021

A public opinion survey and empirical and theoretical review indicated that the Albanian economic system is strongly biased in favour of capital. Building a more cohesive and healthy socioeconomic system requires an in-depth review of policies, practices and institutions. Public debate should be focused on how the present economic system can be reformed towards a more balanced economic system considering social interests.

Public Administration Review, 2012

The important thing for government is not to do things which individuals are doing already, and to do them a little better or a little worse; but to do those things which at present are not done at all.-JOHN MAYNARD KEYNES, "The End of Laissez-Faire" The agenda for reform that has emerged in the course of this Report calls for governments to intervene less in certain areas and more in others for the state to let markets work where they can, and to step in promptly and effectively where they cannot. In many countries this calls for a stronger orientation toward the market and a more focused and efficient public sector role. History suggests that this is the surest path to faster growth in productivity, rising incomes, and sustained economic development. Judging by their recent activities, many governments in industrial and developing countries have come around to this view. But economic policy