The lecture deals with Keynesian views on interaction between government and business — first, during the Great Depression, and then in the postwar period of economic recovery, when the role of the State in the Tandem increased, the State intensified its involvement in the business. The role of public investment into infrastructure as a cornerstone of future economic growth is characterized. Keynesian idea of the importance for economic development of investment in human capital is obtained. The features of neo-developmentalism (neo-structuralism) that have proliferated in the XXI century are analysed.
Author page: Marina Klinova
The second lecture is devoted to the initiation and development of liberal ideas on the role of the State in a market economy. Several kinds of liberalism — from classical to neoliberalism are marked. Views of Western and Russian Liberal schools on the cooperation between government and business are compared. The ordoliberalizm school in which the necessity to combine private initiative, freedom of entrepreneurship, and the public interest in a competitive environment is justified. The German model of Social market economy that combines liberal values with active role of the State in the social sphere is recognized as basic in the European Union.
In view of the increasing State’s influence in the economy around the World, especially in 2010s, we start publishing series of lectures dedicated to interaction between State and Business. The author examines the State’s participation in economic life of some countries and beyond national borders, State’s relationship with Private Capital in the conditions of the market economy formation and further internationalization. The term “State capitalism” is becoming widespread again in the World. This is largely due to the increasing number of companies with State participation among the leading transnational corporations, especially coming from emerging economies. The course of lectures deals with the history of interaction between State and Business and is intended for undergraduate and graduate students studying the History of economic Thought and economic policy. It may also be useful for everybody interested in evolution of the State’s role in one of the key areas of its influence — economy.
The crisis generated by the separation of finance from the real sector can not be considered an occasional phenomenon. On the contrary, such concourse of circumstances is rather natural.