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The current extraordinary inflation and actually started stagflation is the result of a tremendous macroeconomic mistake of the state economic policy of developed countries and, first of all, the USA. A huge part of the respected academic and expert economic community has kept the U.S. and European governments from making such a mistake - but, as

Where are the US economy and the other advanced economies of the world now? In a word, stagflation. Stagflation (declining economic growth with rising inflation) is the new reality, and there are three main clusters of factors that have led to the present stance of the economy. First of all, there are postcovid externalities: breaks in production

The actions of the authorities in developed countries, essentially an extension of the Keynesian economic policy discourse, have brought the economies into disrepute. These actions consist of immense stimulus and virtually unfunded government indexation of voter income in the face of expected impoverishment amid covid, lockdowns, and other global

One of my areas of research in institutional economics is the social behavior of people under different political regimes, what Thomas Schelling called micromotives and macrobehavior. Of course, this topic is directly related to many disciplines, from behavioral economics and political theory to the neurobiology of decision-making and the theory

The social contract in autocracies and totalitarian dictatorships is characterized by the fact that power is always at the top of the triangle: state, business, society—business and society’s nominal weight is always less than that of the state. In particular, this pattern of social structure is typical for Russia: society and business are in a

Total globalization has brought the world order into crisis. The difference of interests, conditions, and opportunities, as well as the socioeconomic regimes of the participants initially implied risks of imbalances. As a result, the wrong policy of coordination—excessive integration with resource autocracies or forced physical (military) coercion

Entrepreneurship involves individual’s active intention of achieving social and material success. This success can be achieved in different ways and have different sources. However, the common feature is that the individual, inclined to maximize social and material success, enters into active competition to gain advantages in achieving such

As Russian political scientist Gleb Pavlovsky has quite rightly said, one should not consider the five-thousand-plus sanctions imposed against the Russian Federation as of this writing as sanctions in the normal diplomatic and economic sense. They are a conditional “second front,” a blow aimed at dismantling the Russian economy, the Russian social