publication . Article . 2007

(In)Visible Hand(s)

Predrag Zima;
Open Access
  • Published: 01 Jan 2007 Journal: Interdisciplinary Management Research, volume 3, pages 449-466
In this paper, the author discusses the regulatory role of the state and legal norms, in market economy, especially in so-called transition countries. Legal policy, and other questions of the state and free market economy are here closely connected, because the state must ensure with legal norms that economic processes are not interrupted: only the state can establish the legal basis for a market economy. The free market’s invisible hand is acting in questions such as: what is to be produced, how much is to be produced, for whom it is to be produced, how it is to be produced. During the transition period but also in the establishnig EU, the role of legal norms i...
free text keywords: Law and economics, legal norms, (de)regulation, State
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