Matías Otero Johansson Marco Mezger One thing that makes history interesting is that because reality turns out to be complicated, you always end up questioning a lot of your assumptions about what happened. So in the neo-liberal telling of history, the Soviet economy was a total disaster under Brezhenev, and then Gorbachev reformed it, and then it became capitalist, and then we all live happily ever after. https://lnkd.in/gD639bms The trouble is that this is not the way most Russians see things. In the eyes of most Russians the 1990's were an absolute disaster and it turns out that the villain in the story is Mikhail Gorbachev and Boris Yeltsin. Gorbachev took an economy that had some problems and then ran it into the ground. The thing about the Soviet economy was that it was growing at decent rates until 1973, and then something happened. The interesting thing is there is a lot of disagreement as to what happened. My explanation is that 1) The oil shock of 1973 required a reallocation of resources. The West had a market economy, whereas the Soviet economy didn't. 2) You didn't have any mechanism in the Soviet economy for incorporating new technology (Apple Computer)
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Awesome insight from our Economics team over here at ATB! Wondering what is going on with the US Economy? Check out the latest GDP numbers. #albertabusiness #useconomy #teamatb #usgdpgrowth
The seatbelt sign is off | The Owl
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Stockholm Institute of Transition Economics / Östekonomiska Institutet (SITE) has just released their impressive report on the state of Russia’s economy under sanctions. Russia suffers under the impossible (but typically wartime) combination og fiscal stimulus and monetary tightening, with crowding out of civilian investment, mounting interest rates and capital scarcity, and a coming need to solve the puzzle by printing money within not too long. The end result of several of these mixes is inflation. High inflation. This is Germany 1942 and Yugoslavia 1992 all over again. Collapse or not will largely depend on the oil price, but regardless of oil Russia’s economy is unavoidably sinking down into serious stagnation.
Deputy Director Stockholm Institute of Transition Economics and Associate Professor Stockholm School of Economics
We have just written a report for the Swedish government about the state of the Russian economy entitled "The Russian Economy in the Fog of War". The report is available below for anyone who is interested. To get some of the main points you can also read my commentary for an article in Dagens Nyheter, linked in a comment below. But I of course recommend that you read the full report.
Report on the russian economy
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42M👀views.Advocating for PEACE by Connecting the dots | Passionate about driving systemic change for a peaceful regenerative future #Mission2030 We must unite for #Peace 🙏☮️
China in 2035 Towards a Society of Common Prosperity for All Book Open Access © 2024 Authors: Angang Hu , Shaojie Zhou Explores how social systems can impact economics Elucidates China's 'common prosperity' Imagines China's future Is an open access, which means that you have free and unlimited access I will read this because #China is leading the way now in many different ways ! This open access book is a new study by the Institute for Contemporary China Studies at Tsinghua University, condensing the new achievements of the Institute’s national policy research. Taking "common prosperity" as the theme, the book elaborates the historical background, ideological sources and theoretical connotation of common prosperity. It reviews the theoretical and practical innovations of common prosperity in three historical periods: the socialist revolution and construction period, the new period of reform and opening up and socialist modernization, and the new era of socialism with Chinese characteristics. It discusses the development goals and practical approaches for China to build a society of common prosperity by 2035, analyzes the development basis and challenges China faces in promoting common prosperity, and puts forward the overall goals and quantitative indicator system for achieving common prosperity in the new era, as well as major tasks, policy logic and pathway for promoting common prosperity. The book also looks into the great significance and world significance of China's realization of common prosperity. Policy interpretation in the book is thorough, and the data is accurate, with authoritative, professional and forward-looking perspectives. This is an open access book. Link to download for free or you can buy a hardcopy if you like 👍🏼🇨🇳✌🏼📈💚🌎⚖️ https://lnkd.in/ehhv7gVh
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Conversable Economist - 11/19/24 The Stockholm Institute of Transition Economics (SITE) at the Stockholm School of Economics has tried to see through the smoke in its report “The Russian Economy in the Fog of War” (September 2024) https://lnkd.in/grQJX9bP #Russia #Ukraine #EU #geopolitics #foreignpolicy #russiaukrainewar #worldpolitics
Russia’s Economy and Deathonomics
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The growth of markets around the world has been a key source of prosperity. Here are a few key insights from "How Economics Explains the World: A Short History of Humanity," by Andrew Leigh. #economics #history #markets #prosperity #innovation #money https://lnkd.in/gUQftqQr
How Money Became Our Maker: An Economic History of the World
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Russia and China’s Approach to Economic Sovereignty World Geostrategic Insights interview with Stefan Demetz on the concepts of engineering approach to economics and sovereign economic model, and how they applies to the current state of Russian and Chinese economies. https://lnkd.in/d8EKiDiw
Russia and China's Approach to Economic Sovereignty: an interview with Stefan Demetz - World Geostrategic Insights
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Let's first question the meaning of economic growth before we assess what influences it.
Are Stagnant Wages Causing Slow Economic Growth In The U.S?
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One reason that I like the idea of meta-ideology is "so what do you do when impossible stuff happens." The big success of China in the 1980s was that they were able to reshape existing ideas to come up with a working economic system, whereas the Soviet Union was unable to do that. I think one reason is that in the 1970's, it was obvious to everyone that the Maoist economic system was fundamentally broken, and so the first thing that Deng did was to establish a framework where you can change things without changing things. The mistake the Gorbachev made was that he tried to change the fundamental dogma of the system, and the Soviet Union got into into a ideological trap similar to the one that the US is in. If everything is perfect, they why do things suck? More importantly, if there is "trouble in paradise" what do you do about it? The idea of why countries fail or succeed is kind or relevant for the pseudo-Nobel in economics on why nations fail. They got the prize for research for a book written in 2012 based on research in the 2000s, and the problem is that it does not seem to age well. If you tell people in the UK or Germany or for that matter in large parts of the US that their economy is a wild success, I think you will get some funny looks. Worse yet, when the UK economy is in trouble, a book that tells you about all of the successes doesn't tell you what to do.
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Senior Fellow, Eisenhower Institute at Gettysburg College, Nonresident Senior Fellow Brookings Institution, Affiliated Faculty, University of Michigan Marsal School of Education
Recent Nobel Prize Winners in economics reminded us, that when the economy isn't working for so many people, they begin to question our democracy. This is why it is so important for the US and all democracies to close the yawning economic chasms between the Elon Musks of the world and the rest of us. Read via @Postindustrial my positive recipe on how we do that!
VOICES: Here’s a better recipe for closing the economic chasm (Part II)
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How can we close the economic divide and spark a revival in America's heartland? In Part II of this insightful piece for Postindustrial Media, John Austin shares a strategic 'recipe' for economic renewal across postindustrial communities. His vision highlights practical steps to build stronger, more resilient economies that work for everyone. #EconomicRevival #Heartland #CommunityGrowth #AmericaRevival #PostindustrialCommunities
Senior Fellow, Eisenhower Institute at Gettysburg College, Nonresident Senior Fellow Brookings Institution, Affiliated Faculty, University of Michigan Marsal School of Education
Recent Nobel Prize Winners in economics reminded us, that when the economy isn't working for so many people, they begin to question our democracy. This is why it is so important for the US and all democracies to close the yawning economic chasms between the Elon Musks of the world and the rest of us. Read via @Postindustrial my positive recipe on how we do that!
VOICES: Here’s a better recipe for closing the economic chasm (Part II)
https://postindustrial.com
I help teachers go where they're appreciated / Turn curriculum and practice for schools into skills as Consultant and Vice Principal / AP History and Psychology Teacher and Tutor
2moRussians hate Gorbachev for his intelligent attempt to reduce alcoholism too. Sentiment works in funny ways.