DOI: 10.33917/es-8.166.2019.124-133

The article reveals the essence and forms of market mechanism flaws and failures of public administration. Their interaction in market system and influence on the development of the market economy is shown. The cordusion is: public administration should be based on spontaneous market mechanism, soften its’ flaws and prevent (or efficiently fix) the failures of its performance

The article analyzes the current world economy situation in modern conditions, when all prior multilateral arrangements, including within WTO, are practically ignored by the EU and the US in relation to Russia; it notes that the current recommendations of international economic organizations in Russia are aimed at preserving the mono-raw material orientation of its economy structure, at forecasting failures in performance of the Government’s social obligations to the Russian population, at the impossibility of conducting modernization and development of new deposits, including the Russian Arctic, due to the high dependence on foreign investment and technology, which should ultimately provide the country’s renunciation of self-contained and independent foreign policy; it analyzes the US strategy of access to hydrocarbon world markets as a leading exporter.