Economics
-
The neoliberal mystique of the markets
Neoliberalism, a prevailing ideology in economic and political realms since the late 20th century, has extolled the virtues of the market as an infallible force guided by rational actors who always make optimal decisions. Neoliberalism traces its roots to the early 20th century, emerging as a response to perceived failures of Keynesian economics and the… Continue reading
-
The Soviet economy before Perestroika
The Soviet Union under the leadership of Leonid Brezhnev experienced a period of economic stagnation during the 1970s and early 1980s. During the Brezhnev era, the Soviet economy faced significant challenges, including a lack of innovation, inefficiencies in production, and a centrally planned economic system. As a result, average salaries in the Soviet Union were… Continue reading
-
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) has become the bedrock of modern economics, serving as a vital measure of a nation’s economic health and progress. This comprehensive article explores the history of GDP, its calculation methodologies, its usefulness as an economic indicator, and the drawbacks associated with relying solely on GDP to gauge a country’s well-being. In… Continue reading
-
The economy of Russia and China
Russia and China have taken distinct approaches to state involvement in their economies. While both countries have witnessed significant state control over industries, the mechanisms through which this control is exercised differ. In China, the party-aristocratic nature of the system allows for indirect state control over private industrial empires through control over individuals. Conversely, Russia’s… Continue reading
-
Neoliberalism and its discontents
Neoliberalism is an economic and political ideology that emphasizes free markets, individualism, and limited government intervention in the economy. It emerged in the late 20th century as a response to the perceived failures of the post-war welfare state and the Keynesian economic model. While proponents of neoliberalism argue that it has led to economic growth… Continue reading
-
How to start a business in China
Starting a business in China can be a great opportunity for entrepreneurs, but it can be challenging if you don’t have capital to invest. However, there are still several business ideas that you can pursue even with limited capital. Here are a few options to consider: Dropshipping – You can start a dropshipping business by… Continue reading
-
Business opportunities in India
There are many different types of businesses you can do with India, as it is one of the largest and fastest-growing economies in the world. Here are some examples: IT Services: India is known for its expertise in the IT industry, and many businesses outsource their IT needs to Indian firms. This can include software… Continue reading
-
Could the coronavirus kill neoliberalism too?
It’s clear that neoliberalism as an ideology is dead. Rather than managing to self-regulate, markets simply collapse when exposed to black swan events, leaving the state and taxpayers’ money as the means of survival. Could the coronavirus kill neoliberalism too, in the same way it is killing thousands of people? With entire countries locked down… Continue reading
-
“We are going to have violence in the streets”, says economist Nouriel Roubini
In an interview with Yahoo Finance American economist Nouriel Roubini said the financial crisis provoked by the coronavirus pandemic could have severe consequences for many people: “We literally are going to have riots on the street and people going to the supermarkets and taking over everything and stealing it because people are going to start… Continue reading
-
Want to stop climate change for real? Say good riddance to capitalism and globalization
This Friday saw mass demonstrations against climate change across the world. In Berlin, London, Warsaw, New York and many other cosmopolitan first world cities, thousands of people gathered to give a massive sign against global warming. Many participants were school pupils, who, following the example of the now famous Swedish 16-year-old Greta Thunberg, skipped school… Continue reading
-
Are IMF loans helping Ukraine?
Руссая версия A few weeks ago, a delegation of the International Monetary Fund visited Ukraine with the purpose of assessing the conditions and requirements for a further $ 1 billion loan. A four-year program of financial assistance from the IMF is in place for Ukraine, for a total of $ 17.5 billion. In March 2015,… Continue reading
-
Помогают ли кредиты от МВФ Украине на самом деле?
English version Очередной визит делегации МВФ в Украине должна решить вопрос о дальнейшем выделении Киеву кредитов. В этот раз цена вопроса – 1 миллиард долларов. На Украине действует четырехлетняя программа финансовой помощи МВФ, которая предусматривает выделение 17,5 миллиарда долларов. В марте 2015 года был перечислен первый транш в 5 миллиардов долларов, в августе того же года… Continue reading
-
Life in Communist times: was it so much poorer than now?
I did not grow up in a Communist country: to me life behind the Iron Curtain was the stuff of fairy tales happening in some mysterious and dark places Continue reading
-
Poland’s neoliberal miracle?
Economists love Poland. The history of Poland since its “liberation from the Communist yoke” is often used as the case in point to show that, yes, neoliberalism works. Continue reading
EAST AND WEST 