On the Last - for the Future (On the Book by R. M. Nureev and Y. V. Latov «Economic History of Russia (Experience of Institutional Analysis)»)

• Main Author: Girsh I. Khanin
• Format: Article
• Language: English
• Published: Ltd. "Humanities Perspectives" 2016-12-01
• Series: Журнал институциональных исследований
• Subjects: Russian economy; institutional specifics of Russian economy; retrospective macroeconomic estimates of Russian economy; Stalin modernization; assessments of Russian economy by CIA; IQ of the Russian population; demographic losses in Russia in the XX cent
• Online Access: http://www.hjournal.ru/files/JIS_8_4/JIS_8.4_9.pdf

The work emphasizes an enormous role of studying economic history for professional education of economists and points out that the subject was underestimated in the late Soviet and post-Soviet periods. Among the analyzed theories of economic development the authors pay special attention to the preceding development theory. They look rightly at explanations of the institutional specifics of the economic development of Russia. Underestimation of remoteness from sea routes is a shortcoming. Evaluating the results of economic development in the pre-Soviet Russia the authors reached correct conclusions on the enormous lag from Western countries in terms of social-and-economic development; and the WWI as the “examiner” of Russian economy. Analyzing the Soviet economy, we support the authors’ thesis that rejecting the “New economic policy” was inevitable and the outcomes of modernization in the Stalin era were positive. However, we take a critical look at the author’s basis on the macroeconomic estimates given by CIA and present some alternative macroeconomic estimates. Agreeing with general institutional conclusions about the post-Soviet economy, we have to underline that characteristics of post-Soviet bourgeoisie are underestimated. The references by the authors to macroeconomic estimates by Rosstat are also criticized and some alternatives are given. A general shortcoming for all period is their poor world-system analysis. To explain the past and future of Russia, in addition to the factors outlined by the authors, we compare the IQ levels in Russia and other countries and focus on huge demographic losses of Russia in the XX cent. We consider the book as a considerable achievement in Russian economic science.