Similarity and Differences of the Economic Crisis in the United States and Russia

Abstract

The article analyzes the causes of the crisis in the United States and Russia and their anticrisis policies. The author notes that, despite similarities in the two countries' efforts to actively support their banks, major differences exist between their respective anticrisis policies in other areas. The U.S. administration is especially supportive of consumer demand, which accounts for the largest part of demand in the United States. In Russia, by contrast, the authorities provide support first and foremost to large-scale business and to the lower economic strata of society. In essence, the author concludes, we are dealing with two behavioral types of different national socioeconomic models—liberal capitalism in the United States and state capitalism in Russia.