The Reception of David Ricardo in Continental Europe and Japan
This book is a coherent and unique collection of chapters exploring the reception and diffusion of David Ricardo’s writings in different languages. It highlights the similarities and differences between them and seeks to delineate the diffusion of Ricardo’s theory in various parts of Europe and Japan. While there may have been case studies about the reception of Ricardo’s thoughts for several countries, there has not yet been a systematic study of the diffusion process under consideration as a whole. This book caters to all scholars dedicated to the history of economic thought and to students who are interested in learning about the peculiarities of the evolution of economic theories in different countries. This book is the first of its kind, with no known predecessor, and it aims to shed light on how and why some of Ricardo’s writings were picked up and why others were not.
Chapter 6, by Denis Melnik, reviews the three periods in the development of economic science in Russia during the last two centuries. As is shown, these periods, for different reasons, provided an unfavorable context for the reception of Ricardo’s economics. For about a half of the nineteenth century the name of Ricardo was not unknown but his theory did not attract attention (Sections 2). During the period that started at the 1860s and ended with the Russian Revolution the consensus towards Ricardo among the majority of Russian economists was based on a respectful distance. Still, there were the attempts to actualize Ricardo’s economics. Nikolai Ivanovich Sieber, the first translator of Ricardo into Russian, regarded his theory as a preceding stage to Marx’s, while Yuli Galaktionovich Zhukovsky, who rejected Marxism from the very beginning, made an attempt to reformulate the Ricardo’s theory in terms not dissimilar to the later neoclassical interpretation. The subsequent rise of marginalist theory and the heated debates among the Marxists at the turn of the twentieth century resulted in a strive to ‘synthesize’ classical and marginalist approaches to value and distribution characteristic for a part of Russian economists. It was a background for Vladimir Karpovich Dmitriev’s original interpretation (Section 3). During the Soviet period the canonical version of the history of economic thought placed Ricardo as an immediate predecessor to Marx. A comparison between the approaches to Ricardo’s economics proposed by Issak Illich Rubin and Piero Sraffa (Section 4) allows to outline the difference between two lines in development of the classical approach in the twentieth century.
The article describes formation and realization of the Japanese state scientific policy as the national program of development of the Japanese society. This process is considered throughout 30 years - 1970 to 2000, with a periodization of stages - decades. The analysis of the given experience has concrete practical value for our country which at all levels of the power has proclaimed the direction on development of a scientific and information society. This process is of main value from the point of view of planning, strategy, and also practice and technologies of realization.
Stretching from the end of the Middle Ages to the Second Industrial Revolution (c. 1500-1900), the authors in this volume analyze spiritual kinship in Europe and its associated social customs - with special attention given to godparenthood. These customs had great importance for Early Modern and Modern European societies, and this collection represents an interdisciplinary effort to combine the work of social and economic historians, historical demographers, anthropologists and sociologists. Arranged chronologically and geographically, chapters cover specific areas of the European continent, from the Mediterranean to Scandinavia and Eastern Europe. Reconstructing changes in theological thought about spiritual kinship, particularly before and after the Reformation, and comparing Catholic, Protestant and Orthodox views and practices, Spiritual Kinship in Europe provides a comprehensive picture of how social practices and religious ideas related to spiritual kinship and godparenthood.
Cataclysms of the twentieth century enabled to speak about the cultural paradigm shift: the New Middle Ages began to crystallize. In this paper the rethinking process (mainly in economic but also philosophical discourse) of the meaning of labour is sketched. The importance of noneconomic sense of labour (which can be understood as Service) has been realized even in some branches of political economy. Self-centred homo economicus is regarded as secondary to unselfish homo faber. Different reasons of standing for this ideal are outlined.
For the first time since World War II, the U.S. seem to lose leadership at the multilateral trade talks shifting accents to bilateral and regional trade cooperation. The main reason for the shift is a deadlock at the WTO Doha-round negotiations where the U.S. face opposition of the steadily growing economies of India, China and Brazil.
Торговые переговоры, ГАТТ, ВТО, США, многосторонняя торговая система, ЕС, Япония, ИНДИЯ, КИТАЙ, Бразилия, Дж. Буш-мл., Б. Обама, М. Баррозу, Р. Зеллик, П. Лами, Р. Кирк, Л. да Силва, Карел де Гюхт, АТЭС, НАФТА, АСЕАН, трансатлантическое партнерство, "двадцатка", trade talks, GATT, WTO, U.S., Multilateral Trading System, Eu, Japan, India, China, Brazil, G.-W. Bush, B. Obama, M. Barrozo, R. Zoellick, P. Lamy, R. Kirk, L. da Silva, Karel de Gucht, APEC, NAFTA, ASEAN, Transatlantic Partnership, G 20
The chapter presents an overview of the development of economics in the nineteenth- and twentieth-century Russia by focusing on the different interpretations of Ricardo’s theory prevailing over this period. The choice of the reference point will make the overview somewhat selective, but still it is not an arbitrary one. Ricardian theory entered Russia relatively late, in the 1870s. By that time it was considered already a part of the history of economics. However the debates between the different approaches in economics led to the confrontation of the corresponding versions of its history. Due to the rigorous style of Ricardo’s writings, their interpretation allowed less space for ideological or political connotations, comparing to the interpretations of Adam Smith or Karl Marx. Hence, the study of the different interpretations of Ricardian theory in the competing theoretical approaches allows to grasp the analytical difference between them.
The chapter is concentrated mainly on the history of pre-revolutionary Russian economics.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.
The paper studies a problem of optimal insurer’s choice of a risk-sharing policy in a dynamic risk model, so-called Cramer-Lundberg process, over infinite time interval. Additional constraints are imposed on residual risks of insureds: on mean value or with probability one. An optimal control problem of minimizing a functional of the form of variation coefficient is solved. We show that: in the first case the optimum is achieved at stop loss insurance policies, in the second case the optimal insurance is a combination of stop loss and deductible policies. It is proved that the obtained results can be easily applied to problems with other optimization criteria: maximization of long-run utility and minimization of probability of a deviation from mean trajectory.