[aaus-list] Where Russia Went Wrong

[stephen velychenko]

Intelligent Russians know Putin's neoliberalism  is destroying Russia
-despite the imperialist bluster. Does anyone in Kyiv know
neoliberalism is doing the same to Ukraine?

 "Throughout the world financial interests have taken control of
government and used neoliberal policies to promote their own
gain-seeking – financial gains without industrialization or
agricultural self-sufficiency. Betting against one’s own currency is
more remunerative than making the effort to invest in capital
equipment and develop markets for new output. So unemployment and
domestic budget deficits are soaring. The neoliberal failure to
distinguish between productive and merely extractive or speculative
forms of gain seeking has created a travesty of the kind of wealth
creation that Adam Smith described in The Wealth of Nations. The
financialization of economies has been decoupled from tangible capital
investment to expand employment and productive powers."

http://www.counterpunch.org/hudson05142009.html



-- 
Stephen Velychenko
CERES Associate;
Research Fellow,Chair of Ukrainian Studies;
Munk Center
University of Toronto
Devonshire Place
Toronto M5S 3K7