The Russian financial crisis of August 1998, which occurred between the Asian recession and the devaluation of the Brazilian real in January 1999, put a question-mark over many certainties. It demonstrated that the most destructive speculative activities of financial players can only have free rein when there is a collapse of the state. The crisis proved that the markets need a state and cannot replace it. It was also the moment when people became aware of the dynamics of a globalized (...) financial economy (Stiglitz, 1999a; 1999b), leading to a critical rereading of the policies recommended in the 1990s and a direct questioning of the IMF and its actions. In Russia it caused a paradigm shift that could turn out to be salutary. In this regard the August 1998 crisis looks like the endpoint on the route followed since 1992 by the transition in Russia (Sapir, 1999a). We can see in the crisis both elements directly linked to the financial liberalization of 1985-95 and structural elements peculiar to the consequences of the transition and the policies adopted. This is why it suggests a reinterpretation of the entire development of the transition in Russia starting from 1992. (shrink)

Ce texte a déjà paru sur RussEurope le 6 mars 2015. Nous remercions Jacques Sapir de nous avoir autorisé à le reproduire ici. L'analyse des formes économiques qui commencent à se coaguler en Russie depuis 2000 suggère le retour à un modèle de développement où le poids de l'État sera particulièrement important, que ce soit sous des formes directes ou indirectes. Dans le même temps, ces formes économiques ne sont pas sans rappeler celles que l'on trouvait dans le modèle de (...) développement russe des années - Économie et Marxisme. (shrink)

Le libre-échange a été réaffirmé comme l’un des principes directeurs de l’économie mondiale lors du dernier G20 de Pittsburgh. Il est souvent présenté comme l’une des conditions de la croissance. Aujourd’hui, cependant, on est en mesure d’en dresser un bilan. Si personne n’envisage un retour à des économies autarciques, la mise en concurrence des économies n’a pas eu que..

In responding to G. Delplace, J. Sapir specifies that he defends a methodological « holist-subjectivist » position, in which the individual behaviours are influenced by collective contexts, constituting an alternative to the Theory of General Balance. In responding to A. Orléan, he confirms his opposition to a vision that rends currency the economical institution or the central social relation. The monetary crisis expressed by the return of barter et the fragmentation off the subsisting monetary space will find no other issue (...) than by the ex-post emergence of a new form, and not by a preexisting, ex-ante totality. (shrink)