The modern economy of Russia: Mikhail Fridman vs John Keynes

The article analyses the problem of acute shortage of credit and cash resources in the Russian economy in the course of market reforms. Attention is drawn to the economic contradiction between the banking system and the real sector of the economy. The contradiction lies in the fact that in Russia all the years of reforms aimed to fight inflation by a policy of expensive money. The author shows on specific statistical material that the fight against inflation has the opposite result: the real rate of accumulation is lower than anywhere else in the developed world. The conflict greatly exacerbated the ongoing economic crisis due to the sanctions policy of the West towards Russia.

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