Social Scientist. v 28, no. 326-327 (July-Aug 2000) p. 71.


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ECONOMIC RECOVERY AFTER FINANCIAL CRASH 71

- rule out imports of goods without paying customs duties and

taxes, as well as imports of counterfeited (by quality, terms of

expire or likewise) goods.

Above we characterized measures on creating structural elements of new system of regulating the economy, aimed at sustainable social-economic development. Certainly issues of anti-crisis economic policy are not confined to the above-mentioned measures. In fact, we haven't considered issues of stimulating small business, problems of effective utilization of natural resources, problems of attracting foreign investment and many other important elements of economic growth policy. We have concentrated exactly on the structural elements of a new system of regulating the economy, leading to development.

Created according to the policy of "Washington consensus" and currently acting system of regulating the economy rejects these elements. This reaction of rejecting new economic policy by existing economic environment and respective practice of state regulations cannot be overcome by gradual improvement of economic mechanism. Serious changes in all institutions, technologies and mechanisms of regulating the economy are needed. In order to achieve it, it's necessary to relinquish the IMF imposed dogmas of "Washington consensus" on non-interference of the state in regulating market economy and responsibility for macroeconomic policy, which led to a deep economic crisis.

Anti-crisis programme must be aimed at stimulating above-mentioned domestic resources of the country and on that basis turning it to a sustainable growth. Paradoxical it may seem, the financial crisis has provided all the (Opportunities for that matter. It destroyed parasitical and fruitless economy of "the financial pyramids". While super-profits yielding mechanisms of self-destruction of economic and financial systems were active, economic growth was impossible. Crash of "the financial pyramids", which impaired substantial part of national wealth, has opened new opportunities for fundamental changes in the economic policy.

Today we have a unique chance - to lay foundation of civilized market economy of 21st century in Russia. In this economy, creative freedom and entrepreneurial activity of people would be supported and protected by sensible and balanced policy of state regulations of economic activity. To achieve this, we have to break the limits of impelled macroeconomic dogma£ and turn to a pragmatic policy of mobilizing domestic resources and capabilities.



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