HSE Faculty of Economic Sciences Co-Authors Intercontinental Monograph
The monograph Russian and Western Economic Thought has been published under the editorship of the HSE Faculty of Economic Sciences and the University of Hohenheim, Stuttgart (Germany). Written by a selection of respected experts, the monograph examines the interrelations and mutual influence of Russian and Western economic thinking. The book is edited by Prof. Vladimir Avtonomov, HSE Faculty of Economic Sciences, and Prof. Harald Hagemann, the University of Hohenheim.
Vladimir Avtonomov outlines the main idea of the book thus: ‘It so happens that economic ideas come to Russia from the West. Once in Russia, they are developed and modified to better reflect the specific Russian circumstances. These modified ideas then influence the next generation of Western economists.’ Among these ‘specific Russian circumstances’, the authors mention social and religious factors specific to Russian thought (particularly in the nineteenth century), attention to the peasant question, serfdom in Russia, the increased influence of Marxism, the development of mathematics and statistics, and the unique experience of building a planned economy.
![](/mirror/pubs/share/direct/804856398.jpg)
The idea of exploring the mutual influence of Russian and Western economic thought first took shape in the form of the Russian Journal of Economics. The release was prepared by HSE researchers (Vladimir Avtonomov, Denis Melnik, Natalia Makasheva) and Western historians of economic thought (Harald Hagemann, François Allisson). It was so successful that the authors decided to expand it with other examples of cultural interaction. As a result, the intercontinental monograph was published.
Vladimir Avtonomov wrote the foreword and the chapter about Nikolai Chernyshevsky (who influenced Karl Marx and, in turn, was influenced by August von Haxthausen) and Andrei Storch. François Allisson (Switzerland) wrote about Mikhail Tugan-Baranovsky. Austrian economists Christian Gehrke and Heinz Kurz examined the legacy of Vladimir Dmitriev, Vladislav Bortkevich, and Georgi Artemovich (Georg von) Kharazov and the special role of Bortkevich in spreading Russian ideas in the West.
Nikolay Nenovsky (Bulgaria) and Günter Chaloupek (Austria) wrote about Peter Struve. The chapter on Vladimir Bazarov and Alexander Bogdanov was written by HSE graduate student Elizaveta Burina, who is preparing her PhD thesis for Paris I University. Denis Melnik completed the collection with a story about Vladimir Lenin and the few years when Lenin was involved in science and development economics.
Jean-Sébastien Lenfant (France) wrote about Evgeny Slutsky. Prof. Hagemann talked about Grigory Feldman and his macroeconomic model. Carol Scott Leonard, who used to work for HSE University and is now working in the UK, wrote a chapter about Alexander Chayanov, and Natalia Makasheva wrote a chapter on Nikolai Kondratiev. Jacob Marschak's journey from Russian revolutionary to President of the American Economic Association has been described by Prof. Hagemann and Canadian economist Robert Dimand.
Moshe Syrquin (University of Miami) wrote about Simon Kuznets. Andrei Belykh (St Petersburg) wrote about Alexander Gerschenkron and his economic backwardness syndrome. Prof. Hagemann added details about Wassily Leontief's understudied German period in Russia. John King (Australia) wrote about Paul Baran, while Mauro Boianovsky (Brazil) wrote about Evsey Domar. The chapter about Leonid Kantorovich was completed by Michael Ellman.
Vladimir Avtonomov noted that foreign researchers, including well-known ones, have shown a great interest in Russian economists. He underlined that many economists who wrote in Russian and are mentioned in the monograph were born in Ukraine, Belarus, and other countries and had different perceptions of their national identity. All these issues are presented accurately and openly in their biographies.
‘I received a lot of letters from the participants, who were satisfied with the way the book shows that Russian thought and Western thought are one single whole; they enrich each other, they are in a constructive dialogue, and this is the natural state of countries and cultures,’ Vladimir Avtonomov concluded.
See also:
Choosing the Right Server Results in Better Outcomes in Doubles Tennis
The Roland Garros tennis tournament, one of the most prestigious in the world, began on May 26. The prize money for this year's French Open totals nearly 54 million euros, with athletes competing in both singles and doubles events. In doubles tennis, choosing the right strategy for a match is crucial. Athletes' ability to adapt to the dynamics of the match and strategically choose the server can earn the pair up to 5% more points, according to Nikolai Avkhimovich, doctoral student and research fellow at the Laboratory of Sports Studies of the HSE Faculty of Economic Sciences. A paper with the study findings has been published in Applied Economics.
Consumer Prices Decrease in Densely Populated Areas
HSE University economists have proposed a novel approach to modelling monopolistic competition with heterogeneous firms and consumers. The results of collaborative research carried out by Alexander Tarasov from Moscow, his co-authors from HSE University–St Petersburg, together with the Norwegian School of Economics, the University of Pennsylvania, and the Free University of Brussels, have been published in American Economic Journal: Microeconomics.
Football Players Cover Greater Distances During Critical Derby Matches at Home Arena
Researchers at the HSE Faculty of Economic Sciences examined the level of effort that professional football players are willing to exert during a match in absence of financial incentives. It appears that the primary factors driving players to strive harder for victory are the strength of the opponent and the significance of the match for the club. This is particularly noticeable in derby matches between teams from the same city, such as the Moscow derby between CSKA and Spartak on April 25, 2024. The study has been published in the Journal of the New Economic Association.
Participation in Crowdfunding Can Generate up to 73% in Returns Annually
Backers of projects on crowdfunding platforms can expect rewards from their pledges. For example, funding someone's idea on Kickstarter can result in an average annual return of 11.5%, with design projects known to deliver returns as high as 70%. However, it is important to note that these returns do not come in the form of direct cash payments but rather as savings on the purchase of the product once it hits the market. This has been demonstrated in a study by researchers at the HSE Faculty of Economics published in Economic Analysis Letters.
Economists Suggest Using Media's Attention to Bitcoin to Predict its Returns
Researchers at the HSE Faculty of Economic Sciences have studied the relationship between the changes in the bitcoin prices and the media attention to this cryptocurrency. The researchers examined the mentions of bitcoin in the media between 2017 and 2021 and built a mathematical model that revealed the strong relationship between media attention and bitcoin prices. The study was published in the Applied Stochastic Models in Business and Industry journal.
HSE Economists Develop a Model for Sustainable Solar Geoengineering Agreements
Researchers at HSE University and George Mason University have investigated the sustainability of prospective international agreements on solar geoengineering. The authors have proposed a scheme in which payments flow from affluent nations to less wealthy ones; an arrangement which sets their proposal apart from traditional systems. The proposed model aims to dissuade more vulnerable countries from excessive use of the prevalent geoengineering method by providing compensation for the potential damage they may incur and supporting their adaptation to climate change. The paper has been published in Environmental and Resource Economics.
Crypto Investors Receive Downside Risk Premiums
Victoria Dobrynskaya, Assistant Professor at the HSE Faculty of Economic Sciences, has analysed the price dynamics of 2,000 cryptocurrencies from 2014 to 2021 and investigated the association between downside risks and average returns in the cryptocurrency market. As it turns out, cryptocurrencies exhibiting a greater risk tend to yield higher average returns. The study has been published in International Review of Financial Analysis.
Results of the Contest to Predict Nobel Prize Winners in Economics
Claudia Goldin's award was predicted by five people. They are Olga Peresypkina (RSVPU), Anastasia Sirotina (first-year student of the Bachelor's in Applied Mathematics and Information Science at HSE University), Mikhail Shabanov (Global Vision Asset Management LLC), Tatul Hayrapetyan (PhD student at the Stanford Graduate School of Business), and Hemant Kumar (Ettumanoorappan College, Kerala, India).
Financial Sector Risks Can Hinder Transition to Green Economy
According to HSE and MGIMO economists, increased financial sector risks in developed countries may be associated with a higher carbon footprint in banks' loan portfolios. This is likely due to the fact that in response to an unstable economic situation, banks tend to issue more loans to companies that have a detrimental impact on the environment. Although this might yield short-term profits for the banks, such trends hinder humanity's progress towards achieving a green economy. The paper has been published in Environmental Science and Pollution Research.
Winner of 2023 Nobel Prize in Economics Announced
The Royal Swedish Academy of Sciences has awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2023 to Claudia Goldin (Harvard University, Cambridge, MA, USA), ‘for having advanced our understanding of women’s labour market outcomes.’ According to the Nobel committee, Professor Goldin has uncovered key factors that determine gender differences in the labour market.