Funkcje państwa i rynku z perspektywy kryzysu finansowego

Abstract

The perennial conflict between the supporters of market solutions and interventionism is based on contrasting the market with regulation. The aim of this article is to analyze the opportunities and threats faced by alternative regulation mechanisms from the perspective of the crisis in the global economy, as well as to give an account of contemporary economics from this angle. The article is focused around three hypotheses. First, development of the modern financial sector has changed functions of market prices. Second, it is a mistake to put the market system and regulation in opposition to each other. Third, the underlying cause of the crisis is the violation of classical rules of rational economy. The last one results both from politics and the methodology of contemporary economics.