The Economic Crisis in Russia: Possible Ways Out

Abstract

The Russian economy has been going through an extremely grave crisis in the last few years on a scale that is unequaled in modem peacetime world economic history and that in terms of the decline of production and living standard is comparable to the rigors of wartime and the occupation of part of the country's territory, as was the case in the Soviet Union during the Patriotic War. Contrary to the hopes of many ordinary citizens and scientists, the dimensions of the crisis are growing with the expansion of the market and private property. The more capitalism there is, the worse matters become in the economy. There is no end to the crisis in sight. That the worst is yet to come is evidenced in particular by the grain-procurement crisis, which has brought the country to the brink of starvation and financial catastrophe.