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This analysis starts with an assumption that vertical paradigm of neoliberalism positions the state regulation only as a formal center of power, and that non-state institutions (mainly banks) acquire de facto economic and political leverage over the state. Here is a definitive break with the liberal horizontal paradigm (order). State institutions coordinate the vertical system and mediate between the individual institutional pillars. Standard of price setting is determined by oligopolistic anddoi:10.14254/1800-5845.2015/11-2/7 fatcat:hywsr7aznngtvakmsvkqxsk72i