The response of the Russian government to the unprecedented sanctions warfare has been largely a liberal one, applying only minor state intervention with capital controls and otherwise relying on the market to fix itself and find import substitutions.
This plus the fact that Putin appointed Nabiullina, one of the most liberal people in top economic circles in Russia, yet again as head of the central bank shows that he still fundamentally believes in liberal economics. There are other factions in Russia who would have liked to see vastly more state intervention, nationalization, huge amounts of state directed investment a la China to kickstart major economic construction the likes of which Russia hasn’t seen since Soviet times, as outlined by economists like Glazyev.
If Putin had really “reformed” and abandoned his liberal ways he would have appointed Glazyev not Nabiullina to head the CB. Essentially these people who deny that Russia is still run by liberals have no idea what they are talking about. Putin left to his own devices never would have cracked down on the various pro-western fifth columnists and oligarchs the way that needed to be done. But the West did it for him by sanctioning various oligarchs opposed to Putin, and making the rest of the Russian elites and most of the population close ranks around their government when they saw how bad the West’s russophobia is.
The response of the Russian government to the unprecedented sanctions warfare has been largely a liberal one, applying only minor state intervention with capital controls and otherwise relying on the market to fix itself and find import substitutions.
This plus the fact that Putin appointed Nabiullina, one of the most liberal people in top economic circles in Russia, yet again as head of the central bank shows that he still fundamentally believes in liberal economics. There are other factions in Russia who would have liked to see vastly more state intervention, nationalization, huge amounts of state directed investment a la China to kickstart major economic construction the likes of which Russia hasn’t seen since Soviet times, as outlined by economists like Glazyev.
If Putin had really “reformed” and abandoned his liberal ways he would have appointed Glazyev not Nabiullina to head the CB. Essentially these people who deny that Russia is still run by liberals have no idea what they are talking about. Putin left to his own devices never would have cracked down on the various pro-western fifth columnists and oligarchs the way that needed to be done. But the West did it for him by sanctioning various oligarchs opposed to Putin, and making the rest of the Russian elites and most of the population close ranks around their government when they saw how bad the West’s russophobia is.