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Paul Tolmachev

Articles by Paul Tolmachev

Degradation and Nationalization: The Inevitable Ways of Russian Autocratic Economic Policy

22 days ago

As Russian political scientist Gleb Pavlovsky has quite rightly said, one should not consider the five-thousand-plus sanctions imposed against the Russian Federation as of this writing as sanctions in the normal diplomatic and economic sense. They are a conditional “second front,” a blow aimed at dismantling the Russian economy, the Russian social structure, and the institutional framework in response to the corresponding actions of the Russian authorities, with the West’s clearly stated position not to mirror such actions.
To put it simply, it is a way to bring the costs of the current Russian policy to such a level that any benefits for the people who make political decisions drawn up in their imaginations would become absolutely insignificant and ephemeral in

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Why Russia’s Authoritarian Regime Continues to Enjoy Public Support

27 days ago

One of my areas of research in institutional economics is the social behavior of people under different political regimes, what Thomas Schelling called micromotives and macrobehavior. Of course, this topic is directly related to many disciplines, from behavioral economics and political theory to the neurobiology of decision-making and the theory of biological markets.
The theme raises the following question: What are the reasons for the broad social support of the current tightening Russian autocracy and its recent political decisions, including the aggressive invasion of Ukraine, which are condemned by most of the world community? Briefly, the answer lies in the following reasoning:
The internal logic of the policy of any tightening autocracy consists primarily

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It’s Not Just the USA: The Economic Instability Is Global

June 2, 2022

The combination of covid lockdowns, money pumping, and attempts to force a new green economy are taking their toll. This is not going away any time soon.
Original Article: “It’s Not Just the USA: The Economic Instability Is Global”

The actions of the authorities in developed countries, essentially an extension of the Keynesian economic policy discourse, have brought the economies into disrepute. These actions consist of immense stimulus and virtually unfunded government indexation of voter income in the face of expected impoverishment amid COVID, lockdowns, and other global problems.
The government is making money cheaper, just to maintain electoral support. This leads to a dispersal of demand and a proliferation of zombie companies, it distorts the incentives

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