Evidential policy in the management decision making mechanism at the macro level

Abstract

The article presents a comparative analysis of alternative approaches to the formation of state economic policy in the modern world — purely ideological, political-conjunctural and scientific-evidential ones disclosing the unconditional advantages of the latter. Evidential economic policy that comprehensively assess available options for achieving high-priority macroeconomic goals is seen as a way to counter real-world threats to management decision-making at the macro level, based only on the ideological leanings of political parties and their theorists (classics and Keynesians), as well as the fact that opportunistic politicians persistently serve not the public interests, but their own selfi sh ones. Contributing to the formation of the methodological foundations of evidential economic policy, the author emphasizes the need to not limit oneself to careful collection of real facts, to formation of a "register of best practices" in world economic history and to the use of modern econometric methods in order to avoid reproaches in empiricism. Absolute emphasis in this case should be made on identifying cause-eff ect relations in the economic system in their strong correlation. Thus, success in the implementation of the evidential economic policy of the country is mostly associated with the state of macroeconomic theory, its ability to provide comprehensive analysis and scenario forecasting of the economic situation.