Effectiveness of a free economy during economic crises

UDC 338.124.4

Authors

Beck A. A.
1st year student of the Institute of Legal Consulting Federal State Budgetary Educational Institution of Higher Education "Moscow State Legal University named after O.E. Kutafin (MSUA)"
Scientific supervisor:
Chkhutiashvili L. V.
Doctor of Economics, Professor of the Department of Management and Economics, Moscow State Law University named after O.E. Kutafin (MSUA)"

Abstract

The article is devoted to the effectiveness of a free economy during economic crises. State control is necessary to solve many problems and tasks during economic crises: to minimize poverty and injustice, to prevent the growth of unemployment. But as we emerge from the crisis, state control should be weakened, thereby allowing objective mechanisms and institutions to stabilize and bring it to its peak. Excessive government control, namely planning, can eventually develop into a dictatorship, which in turn infringes on the rights and freedom of people.

Keywords

state control, dictatorship, market monopolization, free market, state participation in the economy.