Introduction. The legal aspects of state regulation of economic relations are of high relevance for the Russian Federation due to the development of modern crisis situations. At present, it is necessary to study the general parameters of the interaction between law and economics, on the basis of which it is possible to develop specific recommendations for improving Russian legislation. Empirical analysis. The author presents general factors that have a serious (in the long term) impact on the Russian economy: gradual decarbonization; the emergence of the concept of sustainable development, establishing a link between GDP growth (gross domestic product) and concern for future generations; universal digitalization affecting all spheres of public life. Methods and concepts. The confrontation between the two global currents of libertarianism and Keynesianism has a serious impact on the limits of state intervention in economic relations. At the same time, the gradual convergence leads to the development of such concepts as the social market economy and libertarian paternalism, each of them involving a transition to indirect influence and taking into account social factors in creating a competitive environment. The absence of a direct consolidation of the foundations of the economic system in the Constitution of Russia implies the development of synthetic principles that need further constitutionalization. Theoretical analysis. In the Russian Federation, the further strengthening of the direct role of the state in the country’s economy has institutionalgrounds – a large bureaucratic apparatus and a significant public sector in the economic system. At the same time, legal support for various forms of deregulation (self-regulation, co-regulation, quasi-regulation, etc.) has been formed. The declared "regulatory guillotine", in isolation from the general directions of administrative reform, is unlikely to have a significant long-term effect. Results. The process of deconcentration of power (with deregulation being one of the aspects) in the Russian Federation cannot be considered complete. Deregulation is not the only form of deconcentration and reduction of the administrative burden on businesses.