The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 4/2025. Issues of Economic theory.
Yakov S. Yadgarov
Dr. Sci. (Econ.), Professor of the Department of Economic Theory, Financial University under the Government of the Russian Federation, Moscow, Russia
ORCID: 0000-0002-7038-0630
MILESTONES IN THE FORMATION OF MORAL FOUNDATIONS OF RUSSIAN POLITICAL ECONOMY IN THE 19TH CENTURY
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The article examines the essence and features of the moral Russian political economy that formed in the 19th century. The author’s scientific hypothesis is proposed, according to which the previously existing prerequisites for the formation of moral Russian political economy determined the commitment of its adherents to the principles of social justice and moral and ethical norms of human existence in solving urgent problems of overcoming disproportions and crises in the development of economic life. Against the background of the implementation of this hypothesis, the rejection by Russian political economists of the 19th century of the Smithian metaphor about the allegedly always rational direction of the actions of a purely egoistic economic man by the “invisible hand”, that is, the omnipotent “objective economic laws” has been clearly revealed. The article demonstrates the opposition of the “Say’s law of markets”, which tells about the predetermination of the equilibrium of the free competition economy, the assertions of Russian scientists that the achievement of an equilibrium economy requires regulatory participation, from a moral position, participation in this process of society and the state. The decisive role in the formation of moral political economy in Russia of prominent domestic adherents of two political economic paradigms – the Smithian paradigm and utopian socialism – is shown.
Keywords: natural, market and socially oriented market economy, classical political economy, opponents of classical political economy, hypothesis of the relationship between economic life and moral political economy, founders of moral Russian political economy.
JEL: B12, B14, B15
EDN: HZWFKH
DOI: https://doi.org/10.52180/2073-6487_2025_4_59_74
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Manuscript submission date: 30.05.2025
Manuscript acceptance date: 07.08.2025
For citation:
Yadgarov Ya.S. Milestones in the formation of moral foundations of Russian Political economy in the 19th century // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2025. №. 4. Pp. 59-74. (In Russ.). https://doi.org/10.52180/2073-6487_2025_4_59_74 EDN: HZWFKH
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