ECONOMIC SECURITY AS THE SUPREME FUNCTION OF THE STATE

Abstract

This article contains an analysis of the recent studies and publications on the theoretical principles of the state economic security, specifically, it focuses on the overarching problem of the economic security theory to clarify the idea of “economic security” with regard to Article 17 of the Constitution of Ukraine. The purpose of the article is to clarify the definition of the concept of "economic security", taking into account the requirements of Article 17 of the Constitution of Ukraine. Based on the study findings, we are proposing to view the category of “economic security” as a function – targeted actions of the state aimed to enable the sustainable operation of its national security, social and economic development, and economic wellbeing of its people. At the same time, the article proposes to provide legislative grounds for this category and, for this purpose, prepare the Law of Ukraine on the Principles of Economic Security of Ukraine. This study contributed to producing a clarified definition of “economic security” as the supreme function of the state, as well as to defining further areas for researching the general problem, which could include further enhancement of the notions and categories required for the development of the economic security theory. Findings of the study will also contribute to: developing the conceptual framework for the future academic, methodological and methodical support of economic security and functioning of the economic security system; producing academically grounded recommendations how to enhance the economic security regulations.