New in modern understanding of regulation of the economic relations economic and legal laws

Basic economic laws governing economic relations are the law of value the labour force and the law of value of commodities. In the conditions of market economy the price of labour is determined by the cost of food, clothing, shoes, housing and other items necessary for the life of the employee, his family members, primarily children. Converted form of the value of the working force is salary. If its value corresponds to the cost of labour, i.e. if the law of the cost of labour, social production functions smoothly and develops, as its components - the cost of labour and its monetary value set by the legislation are the same. If the salary is lower than labour costs the economy has distortions and problems: a working man cannot provide for his family with the necessary for life products and commodities, they are not sold out, because the workers do not have enough money. The result is a glut in the market, production is diminished, there is mass unemployment, increased crime and, of course, there comes the economic and social crisis, i.e. a complete collapse of public life.