Page 112 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.70, # 1, 2013, pp. 97-117

import of goods and services and encouragement of international competition

created reasonable condition for empowering competition.

Substitutes which strengthened thankfully to improvement of transportation

and telecommunication as well as use of accomplishments of scientific-

technological development not played a little role to limit monopoly trends.

Empowering of competition gave back market mechanism the role of

autonomous regulator of economic balance. Renaissance of market was an

objective reason of neoliberal wave in economics and economical experience.

Even in developed countries in the 80s states economic role was re-considered and

reregulation of economy was begun.

In this way historical period is noticed in development of competitive

relations. In middle ages’ manufacture production system markets operating with

artificial monopoly and no competition were noticed. In the next step of

economical development market gradually decreases monopoly condition and

enables competitive mechanism. Free competition becomes an invisible hand

regulating the economy spontaneously. In this historical background economical

liberalism conception formulates which advise government to minimise its market

intervention.

XIX century becomes market economy operating on free competition basis.

Becoming to the ends of XIX century destroy of free competition happens on quite

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