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Occurrence and development of economic idea.
2. The subject and the methods of the economic theory.
Structure and functions of economic theory
In development of modern manufacture factors of extensive and intensive growth are "adjoined", incorporated, combined. For example, a gain of quantity of a working labor can simultaneously occur and increase of its quality or expansion of a field of manufacture and perfection of technical base of production.
The intensive type of economic growth assumes more effective utilization of resources involved in manufacture.
In modern conditions the major factor of economic growth is «scientific and technical progress» (STP), because only it and a degree of use of its achievements define modern type of economic growth.
Sources of economic growth are those necessary conditions which make possible increase in volume and improvement of quality of the made goods and services during the given period. To sources of economic growth concern, first of all economic resources (internal resources, the international division of labor, the national capital).
Cyclist of market economy. A business cycle and its phases.
Economic growth is not smooth, in regular intervals made rise. In movement of a social production there are years when growth of total amount of manufacture occur very quickly, in other years - more slowly, sometimes there is even a recession. Fluctuations on a regular basis repeating for a determined time interval in movement of a social production mean "cyclic" character of its development. The range of an individual cycle covers movement of economy from one crisis to another, or, considering differently, from one point of rise ("boom") to another.
The reasons of such fluctuations during economic development explain differently. One economists (Z.B.Sej, D.Rikardo and others) in general denied an opportunity of general economic crisis; partial crises of overproduction explained infringement of proportionality between various branches of manufacture which is restored by a course of movement of market economy. Other group of economists J. Keynes, E.Hanssen explains crises of overproduction by insufficient propensity to consumption which lags behind growth of incomes, therefore an exit from crises see in stimulation of cumulative demand. At last, a number of economists «see the reason of crises in lacks of a credit policy.
As we see, to name the unique reason of a cyclic course of movement of market economy it appears rather difficult business. Therefore many modern economists are limited to the general instruction that the reason of cyclic movement is incorporated in complex and inconsistent character of diverse forces and the factors rendering influence on movement of market economy.
The big contribution to development of manufacture and smoothing of cyclist are brought by a budgetary policy of the state. So, financing due to the budget of large programs of development (for example, an industrial infrastructure) creates the common preconditions for development of business in fields of activity necessary for a society.
In movements of a business cycle four consistently taking place phases "crisis", "depression", "revival", "rise" are observed.
Crisis is an infringement of balance in the economy, causing decrease and a suspension of manufacture, and in the heaviest cases - even destruction of productive forces. Distinguish two types of crises of manufacture « crisis – overproduction » and « crisis of underproduction ». Crisis of overproduction is most typical for market economy. It is shown in the following:
* there is an overproduction of the goods in comparison with solvent demand for them; in result the weight of already made goods does not find corresponding selling;
* owing to excess of the offer of the goods over demand there is a sharp falling the prices;
* the volume of manufacture is sharply reduced;
* as the consequence, many businessmen are not able to pay under the liabilities and suffer crash;
* reduction of volume of manufacture conducts to increase in number of the unemployed, decrease in a standard of life occupied and to the even greater reduction in demand.
Crisis is followed with depression during which surplus of the goods (a part gradually misses comes true under the low prices, the part spoils). Realization of the goods renews, falling of the prices stops. During depression the volume of manufacture increases in comparison with the crisis period a little. At the same time the weight of capitals, not finding itself of application in the industry and trade, is flown down in banks that increases the offer of free money. But in conditions when demand for them is insignificant, the norm of loan percent (interest) falls up to a minimum.
Phases of revival and rise are characterized by growth of manufacture: on a phase of revival the preclinical volume of industrial production is restored, and during rise the industrial output already exceeds this level, reaching a new maximum within the limits of the given cycle.
On a phase of rise there is a fast growth of manufacture, the commodity prices considerably rise, unemployment is reduced, demand for the loan capital grows and the level of loan percent rises. The cycle is completed, preparing conditions of the new overproduction, new crisis.
The first terrible attributes of coming nearer crisis test the branches making subjects of long consumption (automobiles, home appliances, etc.) as these goods satisfy needs not the first necessity.
Cyclic crises of overproduction name also "common" as they cover all spheres of a national economy, the most part of manufacture.
Alongside with cyclic in market economy arise also the partial crises covering not everything and any local sphere of economic activities (are those, for example, crises in sphere of monetary circulation and the credit).
The branch crises covering one industry, agriculture or transport (for example, crisis of the textile industry) are also possible.
Other version of economic crisis - structural crises which are caused by large disproportions in development of a national economy. Such crises have, as a rule, long character, and the exit from them is especially difficult (the Example of structural crises can serve the power, raw, food crises which have arisen in 70th years of this century).
Economic crisis can strike economy of one country or get world character. World crisis of 1929-1933 which has captured all industrially advanced countries "is especially well-known" and differed extraordinary long character, depth and heavy consequences.
GNP
Peak the tendency of growth
Peak
Crisis
Crisis
Business cycle and its phases.
Development of market system occurs way, manufacture develops within the framework of the big cycles (extent in 45-60 years). Each such cycle will consist of two big phases - «phases of rise " and " phases of recession ".
The phase of rise is characterized by the investment activity, amplified capital investments in escalating volume of manufacture that is accompanied by increase in employment and growth of loan percent.
The phase of recession is characterized by occurrence of the superfluous capital, application not finding to in new investments as already working capital and without that creates surplus of the offer of the goods; in result the volume of industrial production is reduced, that entails increase in unemployment, and it gets chronic character. In connection with reduction in demand for the free capital the norm of loan percent is reduced.
Material basis of periodicity long-term fluctuation is updating a fixed capital with long service life, updating is connected to introduction in manufacture of new technologies, materials, sources of raw material and energy, workers of new trades.
Theme №9 Economic policy of the state in conditions of the market. Financial - credit system.
2. Social policy of the state. Legal regulation of economy
3. Financial regulation. Financial - credit system.
4. Государственный бюджет
Role of the state in the mechanism of market economy – the basic problem of the modern economic theory.
Non-interference of the state to sphere of private business remained a condition of a reality of market economy as systems of free business. However in 30th of XX century (since time of «Great depression ») the market economy (from for monopolies) has demanded active state regulation as condition of its social efficiency. Кейнсианство also became the concept state regulations of market economy. Keyncian is "intervention", "surgery", and monetarism – "regulation", « therapeutic treatment ». Невмешательство государства в сферу частного бизнеса осталось условием реальности рыночной экономики как системы свободного предпринимательства. Однако в 30-х гг. XX в. (со времени «Великой депрессии») рыночная экономика (из за монополизма) потребовала активного государственного регулирования как условия ее социальной эффективности. Кейнсианство и стало концепцией государственно регулирования рыночной экономики. Кейнсианство – это «вмешательство», «хирургия», а монетаризм – «регулирование», «терапевтическое лечение».
The basic mechanism of economic intervention of the state - "taxes", "purchases" and "payments".
а) Taxes - objective necessity, but their limits - a problem as they directly affect efficiency of private business;
б) Transfer payments - redistribution of a part of tax incomes of the state (taxes pay all house keeping and firms) for the benefit of the certain social groups; hence, transfer payments do not increase
A national product, but change structure of personal consumption, and thus and structure of manufacture;
в) The governmental purchases also change structure of manufacture for the benefit of a gain of the socially significant blessings, but thus increase a national product.
Uncontrollable market processes are destructive for a society and the nature. Therefore the market economy more, than any other, requires regulation. The role of the regulating center can execute only the state ("government") - the institute representing all society and possessing the right of no economic intervention in economic relations. The task will be to find optimum measure and the most effective forms of state regulation of economy which, not destroying its market nature, at the same time would provide to market economy the maximal social efficiency.
General strategy of state regulation of market economy is based on the following principles:
1. The state should finance only those social - significant branches which do not involve private business.
2. The state business should not compete, and help development of private business.
3. State financial, credit and the tax policy should promote economic growth of social stability.
4. State regulation gets the special importance during the period economical crises and for processes in sphere of interstate economic relations (import - export operations, the international specialization of manufacture, currency relations).
Thus, the modern market economy is "state -adjustable". Moreover, the state has turned today to the guarantor of stability, an optimality and civilization of market economy.
State regulation of market economy pursues three purposes:
Minimization of inevitable negative processes,
Creation of legal financial and social preconditions of effective functioning of market economy,
Maintenance of social protection of those of a society, which position in a competitive economic situation becomes the most vulnerable.
Social policy of the state. Legal regulation of economy
Among sources of economic growth it is necessary to name as well economic policy. Correctly, in time reflecting ripened requirements of a society, the economic policy is capable to make active economic growth. It is the most complex and difficultly giving in to measurement source of growth by virtue of that it operates always in non-comparable conditions. The countries, even with identical social and economic order, are at different stages of economic development, possess different economic and scientific and technical potential, have different traditions, a mentality of people, etc.
Not without reason a policy as set of ways of achievement of objects in view carry to art (politick - on – Greek means art of government).
In the narrow sense of the word INVESTMENTS come out as a source of economic development, i.e. an investment of means with the purpose of increase in incomes in the future. Experience of the same Japan testifies, that the high level of investments into development of a national economy has allowed it to achieve and long time to support the highest rates of a gain of GNP.
Special direction in state regulation of market economy is protection of separate social groups. All market subjects require such protection, including businessmen whom should be practically, inviolability of their property, the right on the free order by incomes and an opportunity of business in any sphere of market economy is guaranteed.
In the advanced market economy priorities are the following directions of social protection:
1. A guarantee of a minimum of wages
2. Maintenance of employment. To such conditions concern:
- A free choice of a trade, sphere and a place of labor activity;
- Reception of a desirable level of the general and special educations;
- Material support and conversion training of temporarily free persons in manufacture of able-bodied age (unemployed).
Indexation of the fixed incomes. The question is partial compensation by the state of monetary losses of the population as a result of an inflationary rise in prices on consumer goods.
Legal regulation of economy will consist in development of the laws providing norms of functioning of market structures (a stock exchange, banks, joint-stock companies), businesses and commerce, protection of the rights of buyers and interests of a society, equality of market subjects, intermediary between businessmen and hired workers, struggle against shadow economy, etc. In system of such regulating norms "antimonopoly law" and " a deflationary policy» has exclusive value.
The antimonopoly policy includes the administrative and economic measures interfering monopolization of manufacture and trade by separate subjects:
The rigid control over the prices of the enterprises - monopolists,
Decomposition super large administrative, industrial and commercial structures,
Support of a competition (including by means of the controllable admission on the domestic market of foreign manufacturers).
Encouragement of diversification.
Antimonopoly examination of accepted laws.
Forms of the exclusive status are capable to change, adapting to specificity of concrete spheres. Therefore the antimonopoly forms a constant direction of state regulation of market economy.
The deflationary policy (stabilization of a price level) the states as in modern market economy are inherent deform zing its inflationary processes is so actual also.
In strictly economic sense inflation is a rise in prices as result of an advancing of volume of solvent demand in comparison with cost volume of the offer.
Therefore the deflationary policy is limited to a choice:
Or stabilization of cumulative solvent demand that demands rigid restriction of a gain of monetary incomes of the population,
Or transition to "equilibrium" (free) market prices, that in condition of inflation always means a rise in prices,
Or increase in the offer that demands stimulation of enterprise activity.
Financial regulation. Financial - credit system.
"Finance" always represents state organized system of monetary attitudes in a society.
Already one this function objectively gives to the state a role of "regulator" of market economy. Really, the sizes cash and depositary - check (non-cash) monetary issue and a degree of its security real actives render direct influence on changes of market processes (defining size of solvent demand, a standard of price of the offer, speed of a revolution of monetary unit and its rate of exchange).
However the concept "finance" has also narrower sense, meaning set of the money resources which are taking place at the order of the state (" the state budget "), formation and which use is the main tool of financial regulation by the state of market economy.
The basic source of public revenues (as a result of which the state budget is formed) are taxes, and also enterprise activity of the state (incomes of state enterprises, delivery of objects about the property in rent, sale of licenses and rights on concession, the customs, issue and sale of the state securities).
Though the sizes of public revenues constantly grow, the size of the State expenditure grows even faster. This disproportion speaks the basic directions of use of the state budget in a modern society:
- Grants, grants and credits to private business that allows to direct enterprise activity to social - significant spheres of market economy and also to support to the private enterprises getting in a crisis situation (" means for sanitation ");
- Financing spheres of education, public health services, social insurance and social security;
- Strategic investments into an industrial and social infrastructure, expenses for research and developmental development, for defense, support of export, preservation of the environment;
- The state consumption (the state purchases of the goods and services), stimulating a gain of additional demand.
Clearly, that the sizes of expenses on each of the named directions are capable to render appreciable influence on activity of market subjects in corresponding spheres of economy.
Now the state possesses wide "set" of effective financial regulators: taxes, investments, grants, credits, rates of a discount rate, a privilege for making priority social production, price control, financing of large scientific and technical programs, the state business.
1. Taxes. The modern tax system aspires to realize the following principles:
- compulsion and generality of the taxation of physical and legal persons,
- A combination of the direct and indirect taxation,
- stability and dynamics of the tax rate (depending on sphere of employment and a level of incomes of tax bearers), - inevitability of the administrative and financial responsibility of tax bearers for concealment of the incomes (objects) subject to the taxation.
Taxes are divided on two big groups - taxes from the population and taxes from corporations. The main form of the direct taxation of the population - "surtax". Surtaxes are paid both in a place of work, and on the basis of personal tax declarations.
Constantly growing share of tax revenues in the budget "indirect" taxes (make excises, taxes to consumer goods, the customs), taking the form of extra charges to the prices for the goods and services.
Version of taxes are the obligatory payments determined by specificity of object of the taxation taxes to the real estate, on the landed property, on the inheritance, penalties for environmental contamination, for infringement of the antimonopoly law, etc.
Maneuvering rates of the tax and tax privileges, the state can adjust enterprise activity essentially.
2. Investments. As a result of taxation the state disposes of large money resources that allows it to carry out an independent investment policy, influencing thus on behavior of private investors.
The state investments and orders create the guaranteed market, providing stable realization of production to the firms receiving state orders, and their partners.
The purpose of the state investment policy - structural reorganization of economy and regulation of rates of economic growth.
3. Grants - the sums of money allocated from the state budget for overcoming of branch crises. Usually grants are given the enterprises, whose production has the important social and economic value, but excessive expenses on which makes manufacture unprofitable.
Grants - a necessary element of the State expenditure which should not turn, however, in market economy in "universal" means of the decision of economic problems.
4. Discount rates. The difference between face value of securities and the size of their prescheduled payment refers to "discount rate", Appointing it, the central bank adjusts activity of commercial banks, and thus and enterprise activity.