Correlation between the growth rate as regards labour productivity and wages is the criterion of ef ciency of state regulation of economy

The article presents the methodological approaches to the analysis of the correlation between the qrowth rate as regards labour productivity and wages. The analysis of foreign experience of reforming, in particular L. Erharda’s post-war West German reform (1948) is given. The domestic literature is proposed. The author critically estimates the course of the Russian economic reform which is not aimed at manufacture, at increasing labour productivity from the very beginning until now. As a result, the vicious circle turns out: low wages is the result of the low labour productivity, and the low labour productivity is result of low wages. The author proves the possibility of rupture of this vicious circle as the main anti-recessionary and anti-in ation measure.

economic reform, wages, labour productivity, economic growth, in ation, factor of monetization of economy, social and political stability, anti-recessionary policy, state regulation of economy, indicative planning