ROLE OF STATE IN ENSURING SUSTAINABLE DEVELOPMENT

Abstract

Today policy of state regulation of economy is at turning point, complicated by failures in regulating global economic trends, financial market and negative reaction to predominance of ideology and politics, which over the past half century has inclined even initially liberal market macroeconomic systems to regulate industries such as telecommunications, electric power and transportation. Article will consider the evolution of approaches to conceptualization of processes of state economic regulation in order to determine the modern role of state power as architect and the main implementer of sustainable development model.