Monday, May 15, 2017

The Cost of Fixing Russia’s Economy

By Xander Snyder

Russia is facing an economic crisis, and the search for palatable solutions has come up empty. Low oil and natural gas prices have hamstrung the Russian economy, which depends on the sale of hydrocarbons. President Vladimir Putin knows the status quo must change, but he has put off a decision on the path forward as long as he could, reluctant to face the negative political and social consequences of action. Details of a plan are now on the table, but if he isn’t careful, it could cost Putin the support of rich and poor alike......To Read More....

My Take - These plans are doomed to failure because they're still based on central planning, not a market economy, and most importantly - there's no provision to end government ownership of all the land.  Private ownership - and the sanctity of that concept - is foundational to any chance of Russia - or any other country for that matter - reviving their economy.  Russia is doomed right along with the EU and certainly western Europe.  And when they collapse - they will even drag down those Eastern European nations trying to follow capitalist concepts. 

No comments: