Russia's economy, free from stereotypes of monetarism

Article Abstract:

This article examines the consequences of the economic reform policy of "shock therapy" which is based on the ideology of radical liberalism and holds to the principle that the end goal of creating a market economy justifies the means, but has completely failed in Russia, leading to a decrease in economic efficiency, a decline in production, and a destruction of the economic potential of the country that is unparalleled in economic history. The author explores the basic assumptions and stereotypes of the popular Western concept of monetarism and assesses how its ideology does not conform to the actuality of the conditions of post-Soviet Russia, claims there is little reason to continue to base economic reforms on the failing model of the Washington consensus and monetarism as proposed by the International Monetary Fund and others in the West, then suggests an appropriate prototype for the revitalization of the Russian economy.

World, Analysis, International economic relations, Industrial policy, Chicago school of economics, Monetarism

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'Medicine' against collapse, or how to make bankruptcy effective in Russia

Article Abstract:

This article examines bankruptcy cases among debtor organizations in post-Soviet Russia, and provides interviews with economists who explore ways that such bankruptcies can be prevented.

Bankruptcy

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