Planning for the Future - Institutional Aspects

Abstract

The global economic crisis has yet bottomed out. The major industrial economies are in a deep recession, and growth in the developing world is slowing dramatically. Firefighting against the global recession remains the order of the day, but it is equally urgent to recognise the root causes for the crisis and embark on a profound reform of the global economic governance system. Hence, it is our deep belief that with the revival of the practice of macroeconomic indicative planning (planning) throughout the world, one can expect that the successful combination of the “market’s invisible hand” and the “plan’s visible hand” will provide a more rational utilisation of the production factors and more dynamic economic development of the national economy. Without claiming to provide exhaustive answers, this paper offers the presentation of the experience in the field of planning the future (institutional aspects) in some EU-member countries and tries to make some basic recommendations for the implementation of a system of macroeconomic indicative planning system in the Republic of Macedonia, as a perspective EU candidate country and a potential future EU member state.