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Problematic economic freedom and efficiency Economic Thought | ||
| magazine of college Administration&Economics for economic &administration & financial studies | ||
| Article 1, Volume 212, Issue 18, 2016, Pages 1-36 | ||
| Abstract | ||
| The multiplicity of understanding of economic freedom, caused by the multiplicity of ideological economic backgrounds, has reflected on the perception of different intellectual economic schools to the market mechanism and the role of the state in the economy. The role of the state in the economy has been a subject of ongoing debate to determine the optimal state's role in achieving efficient and practical solutions to the economic problem. This research aims to show the impact of having different perceptions of the role of the state on the level of achievements in the economic efficiency, along with presenting the nature of the relationship between the economic freedom and the economic efficiency. The research relies on assumption that the economic freedom is determined by the evolution of the objective requirements of the community which, in turn, provide the basis for determining the state's role in the economy. | ||
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