Book
Эволюционные процессы в мировой экономической системе
The book presents a logically structured study of the development of global economy beginning from the 1970s. The major evolutionary processes are emphasized and the core problems for the present period of time are identified. Also, a separate scenario forecasts for the next 5-10 years are formulated. In the course of the analysis it was separately allocated problems associated with the functioning of global financial markets and their negative impact on economic growth.
Crisis as a phase of an economic cycle is of most interest. Study of crises in historical retrospective is necessary for understanding of the main mechanisms, regularities and causes of crisis phenomena. The article deals with the history of the world economic crises and classification of their causes.
This book directly confronts uncomfortable questions that many prefer to brush aside: if economists and other scholars, politicians, and business professionals understand the causes of economic crises, as they claim, then why do such damaging crises continue to occur? Can we trust business and intellectual elites who advocate the principles of Realpolitik and claim the "public good" as their priority, yet consistently favor maximization of profit over ethical issues?
Former deputy prime minister of Russia Grigory Yavlinsky, an internationally respected free-market economist, makes a powerful case that the often-cited causes of global economic instability—institutional failings, wrong decisions by regulators, insufficient or incorrect information, and the like—are only secondary to a far more significant underlying cause: the failure to understand that universal social norms are essential to thriving businesses and social and economic progress. Yavlinsky explores the widespread disregard for moral values in business decisions and calls for restoration of principled behavior in politics and economic practices. The unwelcome alternative, he warns, will be a twenty-first-century global economy in the grip of unending crises.
Grigory Yavlinsky is a Russian economist and founder and member of the Russian United Democratic Party (YABLOKO). As deputy prime minister of Russia in 1990, he wrote the first Russian economic program for transition to a free-market economy, 500 Days. He lives in Moscow.
Reviews
“Grigory Yavlinsky’s book is an important contribution to understanding the interplay between social norms and modern economy. The current global crisis makes his analysis especially relevant.”—George Soros
“Reading Grigory Yavlinsky's remarkable book, I was reminded of Adam Smith, also a moral philosopher concerned with the correlation between individual aspirations and the enlightened evolution of society. It is invaluable to have the perspective of an intellectual such as Yavlinsky writing in the shadow of swiftly moving events on the global stage. He explains how market mechanisms influence international developments ranging from instability in European markets to the recent ‘Great Recession’ in the United States.”—Vartan Gregorian, President, Carnegie Corporation of New York
“Yavlinsky provides a new and in-depth interpretation of the events leading to the current recession and broader interpretations of how to avoid future ones. Realeconomik has my enthusiastic endorsement.”—Michael D. Intriligator, University of California, Los Angeles
“With clarity and eloquence, Yavlinsky argues that the deepest cause of the global recession was the erosion of the world economy’s moral dimensions. As a professional economist who has long been a leader of the Russian opposition, he knows how to splice politics and economics. As a politician who has repeatedly declined high office on grounds of principle, he lends the book additional authority. Realeconomik is a work that will, I believe, help to spark a public debate on issues of profound importance for humankind.”—Peter Reddaway, George Washington University
In the paper some prominent features of a modern financial system are studied using the model of leverage dynamics. Asset securitization is considered as a major factor increasing aggregate debt and hence systems uncertainty and instability. A simple macrofinancial model includes a logistic equation of leverage dynamics that reveals origins of a financial bubble, thus corresponding closely to the Minsky financial instability hypothesis. Using ROA, ROE, and the interest rate as parameters, the model provides wide spectrum of leverage and default probability trajectories for the short and long run.
Article gives a characteristics of workforce and examines principals and approaches to development of it s innovation in modern conditions.
Prospects of modernization of Russian education on the basis of realization of the possibities given by an information society are discussed. Conditions of formation and development of the information-communication educational space are studied. The concept of the intellectual control system of innovative development of the Russian educational complex in the conditions of information society is stated/
The concept of an information-analytical Internet-portal of the Russian medical industrial complex as the basis of the intellectual control system of innovative development of the MIC is stated.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.