The economy of the Russian empire of the pre-revolutionary period: what it was
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Each economic system has its own form of power. The liberal-democratic form of power expresses the interests of large capitals, which initially speaks of the strangeness of hopes for social justice in this form of government.
Candidate of Economic Sciences Vasily Galin on the Day TV channel answers the question of whether it was possible to avoid the bourgeois revolution in Russia in February 1917 and continue to develop in the context of the emerging market. In this case, the expert calls not to equate the market and capitalism.
Vasily Galin:
The market also existed under feudalism. The market exists in many African countries (with undeveloped economies) today. But only under capitalism is capital the basis. Without capital, capitalism itself is impossible.
The expert cites the statement of the first Russian Prime Minister Witte from 1898 of the year. According to the then head of government, Russia was not provided with sufficient capital at the end of the 19th century. In terms of the value of movable property, the Russian Empire lagged behind France five times, and from England in 10 times.
This suggests that talking about the "prosperous" economy of the Russian Empire in the pre-revolutionary period is wrong if we consider this economy against the background of Western competitors.
Reasoning of an expert economist:
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