Transformational society and the role of the state in shaping the institutional foundations of a market economy

The main task of the state in the transition period is creation of the institutional foundations of a market economy and the market itself. Within the framework of the liberal conception of "the minimal state" as it was shown by "the sad experience of the Russia's transition to a market" is not an achievable goal. Such a transition must be made, as it was shown by the successful experience of developing and several Eastern European countries, within the framework of Keynesianism - "maximum state." Without market institutions the problem of investment cannot be solved.