Political economy and economic policy. Market. State. Society

TERRA ECONOMICUS, , Vol. 14 (no. 1),

The article reveals the peculiarities of the foundations of social and economic policy on the basis of political and economic approach to the analysis of economic practices. Highlighted by the authors potential uses of political economy for Russia’s development strategy may be applicable to other countries, given the fact that the Russian system is one of the typical examples of the semi-peripheral-type of late capitalism economy and one of the important players in the BRICS group of countries, unlike other members of this union have a number of peculiarities. The authors deduce the need for systemic social and economic policy from the production relations system, key units of which are relations of coordination (the system of resource allocation), property relations, the relationship of reproduction and the block of the social parameters of the economy. Particular attention in the article is given to policy measures in the field of two blocks of production relations system - the relations of coordination, manifested in the ratio of market and planned regulation, and property relations. The article shows that in the field of socio-economic policies all seem narrow professional and even technical issues ultimately rest on the fundamental social problems. Argued that a strict «binding» of the basic units of social and economic policy to the production relations system structure will make economic policy more comprehensive and effective. The importance of integrity and systemic social and economic policy is emphasized in the article, as the inconsistency of the economic, financial, social, and so on state policy and Russia the dominance of short-term measures of financial policy actually presented in modern Russiam economy negates all other efforts of the state, even if they were aimed at the positive objectives. The authors also stress the importance of the question of what economic actor’s interests are expressed by one or the other economic policies, and provide their possible answer to this question.

Keywords: political economy; government economic policy; strategy for the development of Russia; the relationship of government socio-economic policy and the structure of production relations system; late capitalism; «Capital» of K. Marx

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606