Two economics department faculty members from the University of Moscow discussed Russia's changing economy March 28. Details...
The transition from a socialist economy to a capitalist system has been slow and difficult, according to Valentina Guerassimenko and Svetlana Kadomtseva, members of the University of Moscow faculty for 20 years.
“The transition from a planned economy to a free economy is multi-faceted,” says Guerassimenko. “It is even more complicated due to the political transition, and a crisis exists because of the fundamental nature of this transition.”
Since former Russian President Boris Yeltsin took power in 1991, the country has moved to a capitalist economic system. Both economists agree that inflation approaching 20 percent, privatization of property ownership and fluctuating prices represent key growing pains for the nation.
Guerassimenko and Kadomtseva are visiting Elon as part of a research effort in the United States, funded by a World Bank initiative. During their visit, they will learn about teaching methods and innovative course offerings from Elon faculty, in an effort to modernize the Russian university system curriculum.
The Russian professors joined David Shribman, a Woodrow Wilson Fellow, for the hour-long discussion. Shribman is Washington bureau chief for The Boston Globe. He writes several national political columns and has covered U.S. politics for The Wall Street Journal, The New York Times and The Washington Post.