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2014•RePEc: Research Papers in EconomicsRequires access

RUSSIA'S TRANSITION TO CAPITALISM. MYTH OR REALITY?

Paguba Cristina Elena

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Abstract

There is no perfect economic system, but capitalism stood the test of time and proved to be the most efficient one from an economic, social and technological perspective. The countries which adopted a different type of system during history, discovered its limitations and started to embrace capitalistic elements. Russia is a relevant example: the communist system which was meant to bring liberty, equality and progress, generated control, terror and inefficiency. Russia’s transition to liberal capitalism is a necessity but also a lasing process, for the state is not yet prepared to reduce its major influence in the economy.

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There is no perfect economic system, but capitalism stood the test of time and proved to be the most efficient one from an economic, social and technological perspective. The countries which adopted a different type of system during history, discovered its limitations and started to embrace capitalistic elements. Russia is a relevant example: the communist system which was meant to bring liberty, equality and progress, generated control, terror and inefficiency. Russia’s transition to liberal capitalism is a necessity but also a lasing process, for the state is not yet prepared to reduce its major influence in the economy.

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Available abstract

There is no perfect economic system, but capitalism stood the test of time and proved to be the most efficient one from an economic, social and technological perspective. The countries which adopted a different type of system during history, discovered its limitations and started to embrace capitalistic elements. Russia is a relevant example: the communist system which was meant to bring liberty, equality and progress, generated control, terror and inefficiency. Russia’s transition to liberal capitalism is a necessity but also a lasing process, for the state is not yet prepared to reduce its major influence in the economy.

Key concepts: Capitalism, Inefficiency, Communism, State capitalism, Economic system, Market economy, State (computer science), Perspective (graphical)

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