Open Access Journal of Economic Research
- ISSN: 3065-9035
Yury Abrukin
F. Fukuyama, in the book “The End of History and the Last Man”, posited that liberal democracy, grounded in capitalism, triumphed over the authoritarian socialist system. He concluded that the victorious society’s political system was capable of fostering an economic environment that ensured stable growth and advanced development. Defining this situation as “end of history”, based on the ideas of Hegel and Marx, he pointed that there not indication of direct connection between political and economic systems. To elucidate this lack of an “end of history”, the author employs an approach developed in his prior works, focusing on the relationship between the political system—which serves as a control loop in the theory of control—and the economic system, which is a unified entity represented by taxes as an output parameter.