Abstract

End of the Market Romance
Kotz, David M. | February 28, 1994 issue

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The article focuses on Russia's new economic plans. In the opinion of Russian Prime Minister Viktor Chernomyrdin, the mechanical transfer of Western economic methods to Russian soil has done more harm than good. Chenomyrdin promised a new, activist policy to combat directly the collapse of production, investment and living standards. It is opined that Chernomyrdin is right to seek new policies to reverse economic collapse. However, there is a potential danger here. If the new policy amounts to nothing more than bigger no-strings subsidies to large enterprises, it will indeed result in hyperinflation.

See Also:

RUSSIA -- Economic policy; CHERNOMYRDIN, Viktor; PRIME ministers; INVESTMENTS; PRODUCTION (Economic theory); RUSSIA
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