Alexey Vyazovskiy in the text about the economic Council under the President “What economic strategy will Putin choose?” are too pessimistic about the economic decisions of the authorities — in the spirit of all modern experts on Economics. In his comments on FB, he added and explained that, they say, the Kremlin ponabirat solutions from the opposite programs, but in the end nothing happens. More precisely, you get zilch and harm.
But just a selection of the best proposals of unilateral dogma is aerobatics of public administration. Especially in a situation when clear answers are not found in any of the theories: neo-liberalism collapses, and the proposals of his opponents have not been tested or confirmed at the global level. The same “stolypins” come from the opinion that Russia can do itself, and external problems we are a little concerned. Supposedly all the blame in the enemy of the Central Bank, and is enough to remove it and pour a lot of money from the economy will flourish. The eyes and Titov have different points of view on many issues (left-right and socialist-capitalist), and in the Stolypin program tried to combine them: interesting but not always convincing. For example, in this program offered including the growth of external borrowing and sales of state property.
Putin as a practitioner does not like dogma and, listening to everyone, trying to choose the best. The economic Council is created. Even such a dogmatist as Lenin often adjust to reality, adjusting it to fit the dogma. Or explaining it as a temporary and forced decision.
Most interesting is that Putin listens to the Glazyev — in particular, on the question of the issue for expansion of the money supply. It turns out that this is already happening – Russia is printing money as needed replenishment of liquidity.
“Oleg Vyugin said that in the first half of the financing of the budget deficit in Russia is carried out by direct creation of money. Technically, the funds are transferred from the Reserve Fund, but in fact this does not happen, the Central Bank does not sell the appropriate amount of currency in the market”.
In the article it is mentioned at the very end as an example of the correctness of Glazyev. But Glaziev himself somehow does not see this fact, insisting on the sabotage of the Central Bank. While Putin is using the printing press, ignoring the rule of karrensi Board” and not removing it from the USD equivalent amount. In fact, this is detaching from the dollar system — not instant, but gradual. Along with the release of Rossi on the Western market of debt securities.
Glazyev also other antecedency propose to slash his sword and become a sort of USSR 2.0. But in these international conditions is a Chimera. And an unaffordable gamble for a leader of such a huge and complex country like Russia. As well as the desire to repeat Kudrin’s reforms of the 90s: to expel from everywhere the state and give everything to the oligarchs. Because it was not returned to the government, and made a consultant. Let offers, and Putin will choose out the grains a sensible.
Russian rukovodstvo, however, as all non-Western countries, trying to get out of the dollar system, you have to move thinner and neater than dogmatists-experts. Hence the pulling of individual economic decisions, which may seem chaotic, not efficient, etc. Yes, this is not a systematic approach, but systematic decisions now no one, even in the West.
The world is on the verge of total rethinking of the economic dogmas and the international financial system. But no one – no economist or head of state – can’t vouch that useful one way or another. All this is opinion, and we must act here and now. Have to make decisions like walking through a minefield. And doing each step based on a specific situation and search for mines in close proximity. This does not mean that Russia has no strategy, it is and understood to ensure the economic sovereignty through the reformatting of the world from a unipolar into a multipolar one. Clear and ways to achieve, but the specific steps require a situational response.
the author is Eduard Birov
