Secondly, inability to overcome inflation is deviated by lacks of an
economic mechanism. In conditions of the centralised economy practically
there was no feedback, there were no effective economic levers, which were
capable to adjust a parity between money and commodity weight; as to
administrative terminators, they “worked” insufficiently effectively. In
system of financial planning state plan played a determining role, instead
of Ministry of finance and not the State Bank, which “worked” under it,
supporting the scheduled tasks financial and money resources without any
Becoming traditional the politics of high rates of economic development
ignored real resource opportunities. To support rates, the capital
investments were constantly increased. In result the growth of consumption
restrained; the efficiency of capital investments fell that negatively had
an effect for economic growth and current manufacture. The means for new
technology did not suffice, and continuous growing of fund of accumulation
did not give desirable result. A problem died any more in amount of a
capital investment, and in their efficiency, structure to reconstruct which
economic mechanism prevented.
The contradiction and deficiencies deleted there are more means, and
the financial and budget terminators were very weak or practically were
absent. Unbalanced took place not only in the consumer market. Its basis -
increasing disproportion in the manufacture, strengthening financially -
financial not of balance, defects in system of planning, in the mechanism
of the money manipulation, in absence of antiinflationary regulation.
Examining the reasons of inflation, the economists will carry out
distinction between two its kinds - “ by inflation of the buyers “
(inflation of demand) and “ by inflation of the sellers “ (inflation of
costs). In effect, it is two, as a rule, interconnected, but unequivalent
reasons of inflation: one lays on the part of demand (surplus of money
resources at the buyers), another - on the part of the offer (growth of
Depending on character of inflation and rates of increase of
inflationary processes distinguish the following types of inflation:
1) Slow inflation, for which the rather low rates of a rise in prices,
approximately up to ten or several percents per one year are
characteristic. Such inflation is inherent in the majority of the countries
with the advanced market economy, and it is not represented by something
unusual. The average level of inflation on the countries of the European
community has made for last years about 3 - 3,5%.
2) Galloping inflation is difficult in ruling.
The rate of its growth is expressed usually in two-place figures. Such high
rates in the 80-th years were observed, for example, in many countries of
Latin America, some countries of Southern Asia. The galloping rise in
prices shows itself unequally and has not the strictly designated
quantitative parameters. The inflationary processes depend on a level of
development of the country, social economic structure unsimilar regulation
of price processes. In the period after war - the period of capitalism has
gone through two large waves of inflation: at transition from military
economy of a market type (1945-1952) and under influence “ of petroleum
shocks ”, is sharp shocked all structure of the world and internal prices
(1974-1981). But it was possible to western countries to stop inflationary
processes, using various methods of antiinflationary regulation. For the
small countries, for example of Sweden, it was important to avoid imported
inflation, for what the increase of the prices of national currency was
used. Other countries resorted to methods of restraint of inflation by
means of money-credit politics.
3) The greatest danger represents super-inflation. Its conditional
boundary - monthly (within three-four months) rise in prices more than 50%,
and annual will be expressed four numbers in figures. The feature super-
inflation that it appears practically unguided; the usual functional
interrelations and habitual levers of management of the prices do not work.
On complete power the printed machine tool works, the gamble develops mad.
Manufacture will be disorganised. To stop or to brake super-inflation it is
necessary to resort to extreme measures. But there is no unequivocal
representation about that, how to struggle with super-inflation. The rather
inconsistent recipes are assumed various, quite often.
To outstrip inevitable, increase, expected by all, of the prices, the
owners of “hot” money aspire as soon as possible gets rid of them. In
result is developed great demand; those goods are bought up first of all
which can serve a means of partial preservation of the savings (real
estate, subjects of art, precious metals). The people work under pressure
“inflationary crisis ”, and it grow a rise in prices, and the inflation
begins to feed itself.
Classical example super-inflation - conditions which has been usual in
Germany and a number of other countries after the First World War. In
Germany in 1923 the level of a rise in prices was estimated 10 numbers and
12 numbers by numbers; the wages should be spent immediately, for within
day of the price on products raised repeatedly.
The process of inflation is inconsistent. On the one hand, the money
profits are increased, the capital investments extend, and with another -
the rise in prices conducts to depreciation of the unused capital. Win not
everything, and, first of all strong firms having the modern equipment,
perfect organisation of manufacture. In the best rule(situation) there are
social groups living on the not fixed incomes, if their nominal incomes
will grow by rate overtaking a rise in prices.
From inflation the people who take money on credit can win, if not is
stipulated, that percent for the credit should take into account an
inflationary rise in prices.
But whichever there were positive functions of inflation, leaving from
under the control and even remaining rather weak, adjusted, the inflation
renders on a course of economic development the whole complex especially of
To negative consequences of inflationary processes concern:
- Decrease of the real incomes of the population;
- Depreciation of the savings of the population (the increase of
percents on the contributions, as a rule, does not compensate fall of the
real sizes of the savings);
- The loss at the manufacturers of interest in creation of the
qualitative goods (is increased release of the goods of poor quality,
manufacture of the rather cheap goods) is reduced;
- Restriction of sale of agricultural products in city by the rural
manufacturers by virtue of fall of interest, in expectation of increase of
the prices on the foodstuffs;
- Deterioration of conditions of life mainly at the representatives of
social groups with the firm incomes (pensioners serving, students, which
incomes are formed for the account state budget);
- Easing positions of imperious structures (is reduced trust to the
programs and measures planned and carried out government).
The management of inflation represents a major problem money-credit and
in the whole economic politics. The ways of management are ambiguous, are
inconsistent on the consequences. The range of parameters for realisation
of such politics can be rather narrow: on the one hand, it is required to
constrain growth of an inflationary spiral, and with another - to support
stimulus of manufacture to create conditions for saturation of the market
by the goods.
The management of inflation assumes use of the complex measures
assisting in a certain measure to combine an insignificant rise in prices
with stabilisation of the incomes. The tools of management of process
differ depending on character and rate of inflation, features of economic
conditions, specificity of an economic mechanism of the different
For antiinflationary regulation two are used such as economic politics:
1) Politics directed on reduction of budget deficiency, restriction of
credit expansion, restraint of money issue. In conformity with material the
recipes apply targets - regulation of rate of a gain of money weight in the
certain limits - according to rate of growth of a total national product
2) Politics of price control and incomes having by the purpose to co-
ordinate growth of earnings with a rise in prices. One of means serves
index of the incomes determined by a level of a minimum conditions of life
or a standard consumer basket and connected with dynamics of an index of
the prices. For restraint of the undesirable phenomena the limits of
increase or freezing of wages can be established, to be limited
distribution of the credits etc.
The influence on inflationary process in conditions of a sharp rise in
prices requires special measures. So, for elimination of consequences “ of
a petroleum shock ”, struck on economy of USA in second half of 70-th
years, the registration rates were increased, the requirements to the sizes
of reserve funds are amplified, the system of the taxation is stipulated.
To lower rates of an inflationary rise in prices it was possible not at
once: from 13-14 of % in 1979 they have decreased to 4 % after about three
years - in 1982.
As the experience testifies, to stop inflation with the help of one
organisational measures rather difficulty if not to tell it is impossible.
The structural reform directed on overcoming of disproportion’s, that has
arisen in economy is necessary for this purpose.
The concrete methods of restraint of inflation, “dose” and sequence of
application of means, attracted for treatment, depend on statement of the
correct diagnosis. To put the diagnosis - means, to determine character of
inflation, to allocate the factors, basic and connected to them, which
makes the growth of inflationary processes. In this case it is not
necessary to expect for any ready circuits, and series of extreme measures
to finish with inflation. Each inflation is specific and assumes
application of such recipes, which correspond to character and depth of
Constant consequence in particular of inflationary process is the
unemployment. By virtue of importance of this problem the state accepts the
special measures for regulation of the market of work.
The market of work - important sphere economic and social - political
life of a society. In the market of work labour receives an estimation
cost, the conditions of its employment, including size of wages, working
conditions, opportunity of reception of education, professional growth,
guarantee of employment etc are defined. The market of work reflects the
basic tendencies in changes of employment, its(her) basic structures
(branch, vocational, demographic), i.e. in a public division of labour,
mobility of a labour, scales and changes of unemployment.
The unemployment is a social economic phenomenon, at which the part of
a labour (economically of active population) is not engaged in manufacture
of the goods and services. The unemployed alongside with engaged form a
labour of the country. In real economic life the unemployment acts as
excess of a labour above demand for it(her). To the unemployed, according
to statistics of many advanced countries, the persons who have been not
engaged on the moment of realisation of interrogation about the status of
their employment, undertaking attempts concern to find work within the
previous four weeks and registered on labour exchange.
Heavy for the countries of West were 30 years of our century. In USA
the rate of unemployment has reached 25%. The diagram showing the dynamics
of a rate of unemployment in USA for 100 years is rather curious (1890-
If the share of the unemployed makes 1-3 % in general army of work, not
it is accepted to count employment insignificant. Especially dangerous in
social sense not employment (absence of work within 40 weeks and more) is
It is important to emphasise, that to the unemployed usually carry not
only dismissed on the various reasons, but also persons voluntary left
works and undertaking attempt to find new. The structure of unemployment
for its reasons includes four basic categories of a labour:
1) Lost work as a result of dismissal;
2) Voluntary left work;
3) Come on the market of work after a break;
4) For the first time come on the market of work.
The parity of these categories depends, first of all, on a phase of a
The monthly average rate of unemployment within the given year pays off
under the formula:
UE*100 of %
Lue = ------------------
Where Lue - level (norm) of unemployment, %; UE - monthly average
number of the unemployed; LFc - number of a civil labour.
There are some concepts treating a phenomenon of unemployment. In
Mark’s of the theory it usually connect to process of accumulation of the
capital, at which the requirement for alive work (variable capital) is
increased slower, than in machines, equipment (constant capital). In
western economic science the point of view dominates, according to which
the unemployment in the basis reflects an economic feasibility of use of
resources, just as, say degree of loading of capacities reflects expediency
and efficiency of use of a fixed capital. A so-called natural rate of
unemployment reflecting structural disproportion in the market of work
(between structure of a supply and demand of a labour on qualification, by
demographic and other criteria). To natural unemployment carry also so-
called friction unemployment connected mainly to voluntary transition of
the workers from one work on another and to seasonal fluctuations in demand
for a labour.
In USA in the 60-th years as a natural rate of unemployment the
parameter in 4,3 %, in 70-th - already 6,6 %, in 80-th - about 7% was
considered. The excess of unemployment above a natural level is determined
in the basic cyclic factor, i.e. condition of a conjuncture in the country.
Changes of unemployment is influenced, besides demographic factors,
with changes in structure of economy, condition of foreign trade and export
of the capital, scales of the military charges, economic and social
politics of the state.
Owing to variety of internal regulators of the market of a labour, and
also by virtue of social importance of its effective functioning the market
of work requires the qualified regulation.
It is possible to allocate four basic directions of state regulation of
the market of work. First, it is the programs on stimulation of growth of
employment and increase of number of workplaces in public sector, secondly,
programs directed on preparation and retraining of a labour, and, thirdly,
program of assistance to hiring of a labour. Besides the government accepts
the programs on social insurance of unemployment, i.e. allocates means for
the grants with the unemployed.
Within the framework of this program in USA, for example, in after war
period - hundred thousand workplaces in public sector (in sphere of public
services - education, health services, municipal services, and also in
construction of public buildings and structures and in remaking works) were
created. With the help of these programs the rate of unemployment at the
end of the 70-th years was artificial is underestimated on 0,8 percentage
The more and more important meaning gets state assistance to hiring.
So, service of giving jobs in USA having more of 2500 local agencies
(labour exchanges), is engaged in registration of the unemployed, tries to
find by it vacancies, will carry out testing the applicants for work for
definition of their qualification.
The listed directions do not settle all measures of influence of the
state on the market of work. Alongside with them there is a complex of
measures of indirect regulation of a labour: tax, money-credit and
amortisation politics of government. Besides the considerable influence on
the market of work renders also legislation - about social maintenance,
about the labour relations, about the equal civil rights etc.
The measures of indirect regulation of the market of a labour
simultaneously are also measures economic of regulation and influence a
conjuncture in the country.
The special place in system of regulation of the market of work is
occupied with labour exchange (service of employment, service to assistance
to hiring), being one of the important structures of a market economic
mechanism. It represents special establishment, which is carrying out
intermediary functions in the market of a labour. In the majority of the
countries of labour exchange are state and carry out the activity under the
direction of the ministry of work or body, similar to it(him). At the same
time in the market of work alongside with state services of employment the
large number of private intermediate firms functions, the efficiency of
which activity is very high.
The basic directions of activity of labour exchanges are:
1) Registration of the unemployed;
2) Registration of vacant places;
3) Giving jobs to the unemployed and other persons wishing to get a
4) Study of a conjuncture of the market of work and granting of the
information about it(her);
5) Testing the persons wishing to offer work;
6) Professional orientation and professional retraining of the
7) Payment of the grants.
The majority of the economists believe, that the problem of
unemployment and other disproportion in the market of work can be softened
only with the help of a combination of various means - stimulation of
economic growth, reduction of working week, creation of an effective system
of retraining of the staff.
Thus, the modern state regulation of the market of work represents a
complex of economic, administrative, organisational and other measures.
The existing nowadays system of state regulation of economy has
developed not at once. During the development it has passed some stages:
1) Creation of general favourable conditions for reproduction of the
private capital; a concentration of efforts of the state on development of
the labour, tax, trade, social legislation, customs politics, on
maintenance of stability of money. Construction and purchase of objects in
raw and infrastuctural branches.
2) The unmatched among them actions of an anticrisis and structural
orientation, attempt to influence employment and prices.
3) Experiments with use of money-credit and budget means of regulation
of economy. A wave of a privatisation of objects of a state ownership.
4) Transition in a number of the countries to branch and regional
intermediate term programming; attempts to increase effectiveness of state
regulation of economy by study of compatibility and interchangeability of
tools of regulation, definition of their efficiency.
5) Realisation in the increasing number of the advanced countries of
nation-wide intermediate term programming in a combination to development
long-term perspective ways. More and more address, dosing and complex use
of tools of regulation.
6) Measure as agreed of nation-wide intermediate term programs at an
interstate level in framework integration of associations; steps in a
direction national of planning.
On scales, the tools and efficiency of state regulation of economy
decisive influence rendered tasks rising before economy of the separate
countries, material opportunities of the states reflected in a share to
them of a total internal product and in the absolute sizes of means, which
it is ready to use on state regulation of economy accrued experience and
successes in scientific development of problems of state economic politics
in conditions of a market economy.
The mechanism of state regulation of economy is constantly improved,
irrespective of, the governments on principles of economic politics are
guided or are inclined to use more rigid budget tools of regulation. In
modern conditions the practice of state regulation of economy has appeared
rather productive to not admit general crises and social - dangerous of
scales of unemployment.
1) Economy. The textbook for economic academies, high schools and
faculties. Under edition of the candidate of economic sciences, senior
lecturer of AMPERE-SECOND. Bulatova. Publishing house. Moscow 1995.
2) Macroeconomic. The manual. M.K. Bunkina,V.A. Semenov. Publishing
house “ Moscow 1995.
3) Social market economy. The German way. Chaints Lampert. Publishing
house “Business”. Moscow 1994.
4) Market economy. The textbook. Volume 1, part 1. Publishing house
“Somintek”. Moscow 1992.
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