Military Review

The analytical program "However," with Mikhail Leontyev 30 October 2012

44


Our monetary policy hampers our economic growth. This is not someone there says, but German Gref, the head of Sberbank and the inveterate liberal.

"Today, positive rates on loans for the real sector are 6 percent," said Gref. "This means that companies are not able to invest, attracting borrowed funds."

A positive rate is something that is higher than inflation. That is, the available credit for enterprises is at least 12 percent, but in reality - 20 and even 25. Who is going to master 20 percent per annum? Unless, of course, is not engaged in prostitution and drugs!

“That is, in fact, we created a credit market, which is available only for speculative operations. And for development purposes, we come up with various bypass schemes: subsidizing interest rates, some kind of preferential loans, special relationships with governors, with the federal government,” said Oleg Deripaska .

Monetary policy hinders economic growth. He is inhibited. What do the monetary authorities do under these conditions?

In September, against the background of a recorded slowdown in economic growth, the Central Bank of Russia raised the rate from 8 to 8 by a quarter percent, citing the fight against inflation.

What are you doing is, dear! Only our Central Bank is the only one who raises rates while slowing down growth. In a crisis. Moreover, inflation does not depend on the price of the loan, but on the tariffs of natural monopolies.

In all developed countries, central banks keep rates at extremely low, equal to or even lower than real inflation. In the USA - from zero to 25 hundredths, in Europe - 0,75, in Japan - from zero to 1 tenth percent. And just in India, in response to a slowdown in economic growth, the Reserve Bank lowered the base interest rate from 4 by half to the lowest 36 by a quarter in the last 4 years. This was done despite high inflation, the forecast of which the Indian Central Bank simultaneously raised from 7 to 7 and a half percent.

Well, America and Japan are not a decree. But India ?! So no! Let everything die, and we will fight inflation. Target her darling. Because the Central Bank, we are responsible for inflation. And for nothing more. The main thing is to sit suit.

The main factor slowing economic growth, according to the Ministry of Economy, was the increased cost of credit and a sharp slowdown in lending to the non-financial sector. At the same time, it can be seen how the growth in consumer lending sharply outpaces lending to production.

We all know how consumer loans are distributed - nothing is needed! Only a passport! Just take it! Not in the grief that it is bad to credit consumption, but in the fact that imports are purposefully credited. That is, someone else's production. And this is wrecking. And who will answer for this?

The main legislative task of the policy of the US Federal Reserve is to maintain economic growth and maximize employment. Similar tasks are imputed to the central banks of all developed countries.

And ours is not responding. Well, not imputed to him! Our economic policy is almost completely formed by the Central Bank and the Ministry of Finance. At the same time, they are not responsible for the economy, I mean for economic growth. And what is he inhibited? Well, isn't it strange?
Originator:
http://www.1tv.ru
44 comments
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  1. omsbon
    omsbon 31 October 2012 09: 21
    +8
    Leontiev standings!
    1. Sergh
      Sergh 31 October 2012 09: 41
      +17
      Quote: omsbon
      Leontiev standings!

      Strange koment, like, the main thing is to fart first ... well, well, come with you.

      Just yesterday, I was reviewing a video with Putin’s new proposals on the central bank and the entire monetary policy, you better see for yourself, got into the very topic:

      1. omsbon
        omsbon 31 October 2012 11: 17
        +3
        Dear Sergey !
        What did not like my koment. ? I agreed with Leontyev, what's wrong with that? Or do you have to write about it spatially?
        1. Castor oil
          Castor oil 31 October 2012 13: 38
          +3
          Quote: omsbon
          Dear Sergey, What did not like my koment. ? I agreed with Leontyev, what's wrong with that? Or do you have to write about it spatially?

          Upset that did not have time to get ahead? wink
          1. Sergh
            Sergh 31 October 2012 16: 22
            +3
            Quote: omsbon
            What did not like my koment. ?

            So what did Leontiev answer? I’m sorry, if I offended with anything.
            Quote: Castor_ka
            Upset that did not have time to get ahead?

            Yes, it already makes no sense to convey, the whole front has come out.
            1. Irkit
              Irkit 31 October 2012 18: 03
              0
            2. Irkit
              Irkit 31 October 2012 18: 04
              0
              http://youtu.be/AsFtwlSSNa8
      2. alexng
        alexng 31 October 2012 11: 58
        +11
        Thought by the Chinese philosopher Chang Ying Yu: Anyone who is active as a bee, strong as a bull during the day, pricks like a horse and comes home tired in the evening like a dog should consult a veterinarian, there is a high probability that he is a donkey.

        If the current authorities nationalize the Central Bank of Russia, then Russia will get rid of such a brazen parasite as the West and go down in history as having managed to throw the world leech from its body first.
        1. tarks
          tarks 31 October 2012 13: 45
          +2
          The CBR is not a leech, but a blood transfusion apparatus. and the direction of transfusion is unknown only to homeless people. and then not everyone.
          1. alexng
            alexng 31 October 2012 16: 13
            +1
            The commencement is talking about a leech by the name of the United States, not the CBR.
      3. Joker
        Joker 31 October 2012 13: 07
        +3
        The law is excellent, but I would like ordinary people to lower interest rates to the European level too.
        1. askort154
          askort154 31 October 2012 16: 01
          +3
          I recalled how at the beginning of the year on TV showed Gref’s report to Medvedev - Sberbank of the Russian Federation in 2011 received a net profit of 182 billion
          rubles! Both of them have such happy faces that they should serve lemon at the time. I also wanted to scream, Gref, you're a looter! 20-25% loan, where else will you meet?
          1. Ascetic
            Ascetic 31 October 2012 19: 00
            +5
            Quote: askort154
            I recalled how at the beginning of the year on TV showed Gref’s report to Medvedev - Sberbank of the Russian Federation in 2011 received a net profit of 182 billion
            rubles! Both of them have such happy faces that they should serve lemon at the time. I also wanted to scream, Gref, you're a looter! 20-25% loan, where else you will meet


            And where else will you meet such investors? laughing
        2. Nick
          Nick 31 October 2012 21: 13
          0
          Quote: Joker
          I would like for ordinary people to lower interest rates to the European level too.

          Watch a video from Serge, there is about the percentage of the population, too. Sincerely.
      4. speedy
        speedy 31 October 2012 15: 48
        +3
        Thanks for the video, Serge, very appropriate after Leontyev hi In reality, public opinion is being prepared before the final overthrow of the 3rd yoke. It's time to turn on the head to everyone who has it and be ready for everything. Putin needs the support and understanding of Russian citizens in this extremely difficult and dangerous business - the future of Russia and the whole Russian World is at stake. He has already lost a lot of friends in this field (killed!), In the same 2005, those who remember will understand. It can be seen that the time has come to send the Baskaks to ... to their homeland, and in front, perhaps, is Kulikovo Field.
      5. Ascetic
        Ascetic 31 October 2012 18: 58
        +4
        Quote: Sergh
        Just yesterday, I was reviewing a video with Putin’s new proposals on the central bank and the entire monetary policy, you better see for yourself, got into the very topic:


        It’s good that they began to talk about it openly, Starikov wrote a book The nationalization of the ruble - the path to freedom of RussiaFedorov is the same. In the 90s, I remember pink-cheeked gaydar people rubbed smart words about the refinancing rate and overheating of the market, therefore, large loans and the export of capital are useful, etc. It’s not clear why the hell, you’re sitting like a ram, you feel that you don’t know where the vegetable knows
        .
      6. S_mirnov
        S_mirnov 31 October 2012 20: 39
        +5
        Oh, how sweetly she sings about "Putin's new proposals on the central bank", and what became interesting with the old proposals of the GDP? Enough already mocking the readers of the online magazine! What prevents the GDP from adopting this law? Wrote a law, ordered the EP to vote "FOR" - the Duma automatically approved the law, EVERYTHING! With the WTO - look how quickly they ruined everything and do not care that the majority of the population was against it, once it was ready!
        It was the GDP that built the state structure so that traders are in power and instead of factories in the country only shopping centers are built, the essence of which is pure speculation, without creating a specific product. Banks spawn like lice! 10 people lend, 49 trade, 40 manage, 1 works at the machine and feeds the horde of these parasites
    2. Cavas
      Cavas 31 October 2012 09: 53
      0
      Quote: omsbon

      Leontiev standings!

      For MANIPULATING public opinion? wassat
      Then YES, former liberals can ....
  2. dusha233
    dusha233 31 October 2012 09: 28
    0
    As always, the young man and to the very point !!
    1. KuigoroZHIK
      KuigoroZHIK 31 October 2012 19: 47
      0
      yeah. If only they laid it out more often, sometimes there are breaks ....
  3. volcano
    volcano 31 October 2012 09: 33
    +18
    Well, okay
    slowly began to bring down the Central Bank ....

    only what does Gref not say, why does Sberbank, having a Central Bank refinancing rate of 8%, give loans not at 15-16, but at 20-25?
    And gets superprofits (a record should be noted despite the crisis)
    It's like a joke
    Let's go to the pub .....
    Why are you in a country of crisis .....
    The country is in crisis, but in Moscow it’s Friday .....

    And Gref’s words look somehow strange ..... now nothing prevents them from entering the divine interest and staying in profit ......
    Probably they (the bankers) forgot how they justified themselves for raising interest, because the crisis,
    So if the Central Bank lowers the refinancing rate to 3-4%, then I’m more than sure that the commercial banks will not change their rates (well, if a little bit) and will still row the extra profit with a big shovel in their big bags
    1. tarks
      tarks 31 October 2012 13: 48
      +1
      your big bags .. these are not their bags.

      it's like in the movies - it's not your tooth. it's not even my tooth. this is his tooth.
  4. albanec
    albanec 31 October 2012 09: 34
    +14
    Only in a neighboring topic did they discuss that the Central Bank of the Russian Federation does not belong to the Russian Federation, but belongs to the Fed. We need to nationalize the Central Bank! Fortunately, we have been going to this for a long time. And Gref is that darling, the bench is crying for him am
    1. Sergh
      Sergh 31 October 2012 09: 49
      +11
      Quote: albanec
      And Gref is that darling, the bench is crying for him

      Absolutely two handed. This liberal infection in the 90s brought this policy under the Fed, he thinks we don’t remember anymore, Zhuchar, I remember those years like yesterday, in a cold sweat. So that the bench is from above and below, I can get off as a joiner myself, I will draw up according to all the rules, I will work in three shifts ...
      1. Taratut
        Taratut 31 October 2012 10: 25
        -10
        Well, dear ones, have you forgotten Putin? Scary?
        1. tarks
          tarks 31 October 2012 13: 51
          +1
          'why be afraid? now, thank God, not 37g '(GDP at a press conference on ideology).
          1. Sergh
            Sergh 31 October 2012 17: 32
            +2
            Quote: Taratut
            Have you forgotten Putin? Scary?

            I didn’t get to the question. Looks dumb to old age began, scary for what? Or why? Chew, explain. I can, in order, from the 95th, and if you want from the very beginning, from the 85th. I remember everything as yesterday.
            1. Taratut
              Taratut 2 November 2012 10: 18
              0
              Isn't Putin Yeltsin's successor? If we set aside the "patriotic" rhetoric - what has he changed?
      2. skullcap
        skullcap 31 October 2012 10: 43
        +3
        Sergh (1) Today, 09: 49
        I can get off at the joiner myself, arrange it according to all the rules, I will work in three shifts ...
        -------------------------------------------------- ------
        I must warn you that there is a healthy but very strong competition
    2. Cavas
      Cavas 31 October 2012 09: 52
      +2
      Quote: albanec

      Only in a neighboring topic did they discuss that the Central Bank of the Russian Federation does not belong to the Russian Federation, but belongs to the Fed. We need to nationalize the Central Bank! Fortunately, we have been going to this for a long time. And Gref is that darling, the bench is crying for him

      And Gref, what side to the Central Bank?

      The head of Sberbank German Gref criticized the decision of the Central Bank to raise refinancing rates. According to him, this will lead to an increase in interest rates on loans and will have a negative impact on the rate of economic growth.
      Read more at Forbes.ru: http://www.forbes.ru/news/127686-gref-predvidit-zamedlenie-ekonomicheskogo-rosta
      -iz-za-novoi-stavki-refinansirovaniya-tsb
    3. skullcap
      skullcap 31 October 2012 09: 53
      +6
      Gref and Kudrin - twin brothers.
      For Kudrin, I remember that he is the father of Russian corruption.
      I remember how in the 2000 year, people argued that the fine for violation of traffic rules should be given personally to the traffic cop and in no case should the state pay.
      Because then Kudrin will send the money to the stabilization fund, that is, to America. And the Americans with this money will form and equip new gangs of terrorists with explosives that will blow up houses, subways, etc. And everyone I know did just that.
      So it is high time to revive the bitter, but which cannot be avoided, the concept of "enemy of the people" and get rid of them in the most decisive way.
    4. 31 October 2012 10: 35
      +2
      Quote: albanec
      We need to nationalize the Central Bank!

      The soil is being prepared, the main thing is that it doesn’t work out like in Hungary recently.
      1. albanec
        albanec 31 October 2012 10: 46
        +1
        We have the resources and experience of Hungary. I hope everything works out!
  5. Cavas
    Cavas 31 October 2012 09: 46
    +17
    What are you doing is, dear! Only our Central Bank is the only one who raises rates while slowing down growth. In a crisis. Moreover, inflation does not depend on the price of the loan, but on the tariffs of natural monopolies.

    Well, they waited!
    Attack on the Central Bank backed by public opinion and deputies!
    I am in this war against the Central Bank!
    Article 22. The Bank of Russia is not entitled to provide loans to the Government of the Russian Federation to finance the federal budget deficit, to buy government securities at their initial placement, except as provided for by the federal law on the federal budget. The Bank of Russia is not entitled to provide loans to finance budget deficits of state extra-budgetary funds, budgets of constituent entities of the Russian Federation and local budgets.


    That is, only a few lines in the Law leave Russia without one of the most serious instruments of state regulation of the economy - without money emission. Formally, of course, it does exist, but only on the scale of the influx of gold and foreign exchange reserves.

    And the article of our Constitution supplements this article to make it completely “unkilled”:

    Article 75 (Constitution of the Russian Federation) Money issue is carried out exclusively by the Central Bank of the Russian Federation. Protecting and ensuring the stability of the ruble is the main function of the Central Bank of the Russian Federation, which it exercises independently of other government bodies.


    It should be understood this way. “All go through the forest. Neither the state of the Russian economy, nor its potential for development, nor its competitiveness in the world market "worries" me. My business is a stable ruble exchange rate. " And after that, we want to hang the responsibility for everything exclusively on Putin?
    1. 755962
      755962 31 October 2012 11: 37
      +3
      Quote: Cavas
      I am in this war against the Central Bank!

      And I go there .. Only they can tie a pair of weights to the life buoy ... And then the growth of unemployment, housing and utilities tariffs and a steady increase in fuel prices ... And after it all the rest .. AS SAME?! rates will be like a breath of fresh air .. There is nothing to compare with anything else. request
    2. tarks
      tarks 31 October 2012 14: 00
      +3
      according to the 75th article, it is just them that you can "attract".

      The CBR does not ensure the stability of the ruble and its security.
      The ruble is stable only with steady economic growth. those. they are simply obliged to provide support for economic growth by all means available to them.
    3. military
      military 31 October 2012 15: 12
      0
      Quote: Cavas
      It should be understood this way. “All go through the forest. Neither the state of the Russian economy, nor its potential for development, nor its competitiveness in the world market "worries" me. My business is a stable ruble exchange rate. " And after that, we want to hang the responsibility for everything exclusively on Putin?

      and what? ... the guarantor (of this very Constitution and this very article 75), as always, is again out of business? ... feel twelve years "guaranteed" to fill the Fed ... isn't it time for it to stop? recourse
      1. Cavas
        Cavas 31 October 2012 21: 25
        +1
        Quote: military
        twelve years "guaranteed" to fill the Fed ... isn't it time for it to stop?

        Reception of Comrade Putin is open from 9-00! laughing




        My business is to warn, and then how it goes! request
        1. military
          military 1 November 2012 09: 47
          0
          Quote: Cavas
          Reception of Comrade Putin is open from 9-00!

          well, yes ... this is not the "nationalization" of the central bank ... it is somehow easiertongue
          1. Cavas
            Cavas 1 November 2012 12: 04
            +2
            Quote: military
            well, yes ... this is not the "nationalization" of the central bank ... it is somehow easier

            You did not understand.
            I told you where to go in order to draw the attention of the President of Russia to such sloppiness! wassat
            And it is up to you to go or not go, give him advice, criticize or help with the matter! laughing

            "Everyone imagines himself to be a strategist, seeing the battle from the outside."
            The Georgian classic Shota Rustaveli, in my imperfect opinion, perhaps better than many - in form and grace - formulated a more simple version of the formula "every gopher in the field is an agronomist"! hi
  6. dimon-media
    dimon-media 31 October 2012 09: 51
    -5
    Something the article is not the topic. All the same, Military Review, not economic.
    1. Boris55
      Boris55 31 October 2012 10: 01
      0
      And this one in the topic: "Indexation is canceled. The Ministry of Finance decided to save money on the Armed Forces and the Ministry of Internal Affairs" -
      http://klin.ucoz.net/news/indeksacija_otmenjaetsja/2012-10-30-303

      And yet, Gref about the people:

      1. afire
        afire 31 October 2012 13: 45
        0
        did he himself realize that he had wound up?
      2. tarks
        tarks 31 October 2012 14: 13
        +3
        surprised by the gref. the answer to his bewilderment lies on the surface.
        when everyone is self-sufficient and knows everything, strata and manipulation will not be needed.
        society automatically becomes self-governing.

        but this will never happen, because it is impossible physically.
        self-sufficient does not exist in nature, no matter what individual individuals think about themselves there.
      3. stariy
        stariy 31 October 2012 22: 27
        0
        Quote: Boris55
        And yet, Gref about the people

        It remains to call people cattle and all points are dotted ...
    2. neri73-r
      neri73-r 31 October 2012 10: 09
      +3
      And this is a war, only an economic one and the West still dominates it, in particular, guys from the US Federal Reserve !!! We will not develop until the Central Bank of the Russian Federation nationalizes in the literal sense of the word and forces it to work for the country.
  7. segamegament
    segamegament 31 October 2012 10: 06
    +7
    The Central Bank "RF" is a criminal organization fostering the Federal Reserve System, which is not subordinate to the Government of the Russian Federation and in general has the most distant relation to Russia. The Central Bank of Russia does not belong to Russia and does not act in the interests of Russia at all.
    Senorazh - income received as the difference between the cost of manufacturing banknotes, paper or other, and their face value. For example, if we assume that the cost of manufacturing a 1000-ruble banknote is 10 rubles, then seigniorage for the issue of such a banknote will be 990 rubles.
    So where does the seigniorage obtained when creating Russian rubles go? The answer in Russia, he certainly does not remain, and traces are lost in the Fed ...
    1. sergo0000
      sergo0000 31 October 2012 11: 36
      +3
      What to do. THIS IS OUR FEE
      Cold War raffle. The winner gets everything. That is, the entire financial system of the state.
  8. AIR ZNAK
    AIR ZNAK 31 October 2012 10: 42
    +1
    And a little more about the high lending rates of commercial banks: They contain credit risk, i.e. non-payment of% and of the loan itself. insolvent borrower .. That is. for them, the bank will still refund us with a high% rate. And commercial banks give out loans to everyone, and nobody needs a credit bureau.
  9. WW3
    WW3 31 October 2012 10: 44
    +3
    Yes, it is clear that the Central Bank should be controlled by the state-vu, and the base rate in the conditions of the crisis is reduced, since this will cause a reduction in interest rates on loans. banks and will accordingly stimulate the Russian economy with cheap loans ...
  10. tambu
    tambu 31 October 2012 11: 55
    -1
    Bullshit - the focus of consumer lending cannot control the consumption of domestic or imported goods ... secondly, consumer loans make it possible for millions of people to buy equipment that they would not be able to buy for cash

    and then ... both inflationary processes and the development of the country's economy as a whole depend on the ruling party or on the leader. This dependence lies in the rate of development. In case of economic downturn, a competent leader of the country can slow down this process, or an illiterate one, respectively, only accelerate it ... change the direction of the process and all these economic "miracles" are all muddy geopolitics with the economy that has nothing to do ... with economic growth and therefore there is absolutely no sense to be responsible for this

    And last ... the official level of annual inflation in Russia is about 5 percent ... so you can draw two conclusions or the shadow side of the economy is SO significant and you get the rate of the National Bank or the bank itself proceeds from profitability ... 100 percent %! ... the second one frankly seems like a lie (the deputies would have bitten it), but on the account of the shadow economy - now you can imagine its volumes and understand why it is being fought so actively .... from 20 percent of the loan to inflation only five can be attributed!
    1. carver
      carver 31 October 2012 15: 27
      0
      yes of course nonsense if their production is spread rot then whose goods will then be bought with money taken on credit ??? straightforward thinking !!!
  11. 8 company
    8 company 31 October 2012 12: 18
    +4
    "Today, positive rates on loans for the real sector are 6 percent," said Gref. "This means that companies are not able to invest, attracting borrowed funds."
    A positive rate is what is higher than inflation. That is, an affordable loan for enterprises is at least 12 percent, but in reality - 20 or even 25. Who will master 20 percent per annum? Unless, of course, he is involved in prostitution and drugs! "


    It's funny ... We would have your problems, we have a refinancing rate of 30%, and loan rates are higher than this rate. What is the economy of Belarus doing then? We are exchanging Lukashenko for Putin!
    1. saturn.mmm
      saturn.mmm 31 October 2012 18: 17
      0
      Quote: Company 8
      It's funny ... We would have your problems, we have a refinancing rate of 30%, and loan rates are higher than this rate. What is the economy of Belarus doing then?

      The economy of Belarus is engaged in illusionism.
      I wonder what the next trick will look like, and how many people will have to chip in this trick.
      And in Russia, they finally began to think about their industry.
      1. 8 company
        8 company 1 November 2012 09: 37
        0
        Quote: saturn.mmm
        I wonder what the next focus will look like.


        Just like last year. The ruble is kept artificially, this can be seen in the rise in prices, a fall is inevitable.
  12. afire
    afire 31 October 2012 13: 36
    +2
    You can not imagine what is happening in the offices with people working in the savings bank! it's just mockery and mockery! not only customers but employees themselves suffer. Gref is a well-deserved Cossack who needs only a plan and the whole sber works for the plan! There is NO development in the bank
  13. IRBIS
    IRBIS 31 October 2012 14: 42
    +1
    Let me look back at the past. Those who remember well the end of the 80s are a little familiar with the "management of the people" when the deputies of the Supreme Soviet (truly people's - locksmiths, milkmaids, etc.) made decisions. One aunt-milkmaid angrily condemned the Buran program and said that it would be better to produce pots and beds and, according to the decision, the program was curtailed (no funds were given). NPO Energia was really forced to churn out dishes and other crap. You know the result, but this is just an example. Who cares - pick up the materials of the congresses of people's deputies and be horrified. Why am I all this ?. Oh yes, the people's government. Are you not enough examples from the 20s and 80s? Someone wants to play democracy? "We will force ...", "we will rule ..." Control and nationalization are not the same thing, but common - this means ownerless. They will plunder and ruin even faster. And references to the lending system in "developed countries" are now not appropriate. After all, it was the "financial bubble" of cheap loans that burst and caused the crisis. Someone wants to try to live a little in luxury and for free, like the Greeks? Oh well...
    1. Sergh
      Sergh 31 October 2012 17: 16
      +4
      Quote: IRBIS
      One milkmaid aunt angrily condemned the Buran program and said

      Well done, put pressure on the old mazol. I remember one case, those old women's pearls "a little bit to run the country", so somewhere in the very beginning of the 90s at one meeting (then it was fashion to choose directors) at the choice of Ch. director of the theater, you almost chose someone for this position ... a cloakroom attendant, since she was considered, in the opinion of the same female collective, the most active and business "woman", in fact she was just a quarrelsome and loudmouth woman to the extent of their illiteracy and stupidity. So I watched this scene on a local TV and spat in all directions, it was just some kind of tin. These years were enough for a long time, you still hiccup. That's right: everything in common is a draw!
      Here you are a little wrong about the bubble with cheap financial loans, there is a slightly different meaning of their inflation, google, you will find an explanation in more detail, here the page is not enough.
  14. Karabin
    Karabin 31 October 2012 14: 56
    +1
    Not that grief is that it is bad to credit consumption, but that import is purposefully credited. That is, someone else's production. And this is wrecking. And who will answer for this?

    Not only do we credit imports, we have opened the doors for him with the entry into the WTO. But Leontyev is not talking about that. Apparently the line of the "party" is not wavering in this direction yet.

    ..., and German Gref, the head of Sberbank and the inveterate liberal.

    "As for liberal economic models, they have the right and obligation to exist where they belong. Since there is a more efficient economic mechanism than the market where state intervention is not required for some special reason, mankind has not come up with it." (S) M. Leontiev.

    Leont'ev, when necessary, is also a liberal, though he does not feel like being "inveterate".
    1. Cat
      Cat 1 November 2012 03: 26
      +1
      Quote: Karabin
      mankind has not invented a more effective economic mechanism than the market where state intervention is not required for some special reason. "(S) M. Leontiev.

      yes, but only who will determine - where and when to intervene with the state - that is the question.
      And then the United States once already played a self-regulatory market without government intervention. Got played right up to the Great Depression.
      Yes, and in Russia, too, there was one who declared - they say, the market will put everything in its place. Remember, remember.