The public regulation of economic relations in the modern state: theoretical aspect

When people are well managed,they do not seek or desire any other freedom.N. Machiavelli Both Capital and Labor are not separate groups, they are partners.FordIntroduction: the economic sphere of societyhas always been of great interest and played a significant role in the functioning of society. In today’s world, the problem of building the social state not only does not lose relevance, but also becomes more and more acute. In this regard, the purpose of thestudywasthepublic regulation ofeconomic relations in the modern state and the economic aspects of the social state’s being. Methods: the research methodology includes the systematic, comparative law method, the method of logical analysis, as well as the methods of exegesis and hermeneutics. Results: in the course of the analysis the fundamental nature of the social state principle the under modern conditions is substantiated. The economic activityofthe public authoritiesand the realization ofpublicinterest are a necessarycondition for the building ofthe social state. Conclusions: as a result of the studyit is foundthat the role of thestate power in building the social state isoffundamental importance. Without thepublic regulation ofeconomic relations it is impossibletobuild the social state, toachieve the necessary level ofwelfare ofthe people and theprosperity of thecountry. The realization ofpublic interest under a free market economy is not the suppression of freedom, but “the service” to it.