Ideas and Ideals

By the nature of his scientific work, Stanislav Mikhailovich Menshikov occupies a unique place in the history of Russian economic thought. For several decades, he successfully researched the U.S. economy, lived there for many years, and collaborated with the leading American economists of that time. From the 1970s onward, alongside his research on the economies of capitalist countries, he also studied the economy of the USSR, identifying major defects within it. Unlike the vast majority of Soviet and Russian economists, Menshikov approached the issues of reforming the Soviet and Russian economy based on many years of experience researching capitalist economies. His economic views are presented in four books published between 1990 and 2008, a review of which is provided in this article. Menshikov proposed a program for the transition to a market economy based on his analysis of the inherent defects and crisis phenomena of the command system. His program envisioned the commercialization of the state sector and the creation of conditions for the development of the private sector. It also aimed to improve the structure of the economy by reducing the military and investment sectors while expanding the consumer sector and foreign economic activity. In the area of foreign economic relations, Menshikov considered it necessary to grant enterprises of various forms of ownership broad rights to engage in foreign economic activity in order to foster competition as a means of increasing economic efficiency and product quality. Menshikov’s program assumed that the population’s standard of living would be maintained during the transition to the market through reductions in productive investment, military spending, and shadow economy revenues.

The article analyzes cross-sectoral integration in Russia’s regional industry, focusing on the linkages between the development of mining sectors and the dynamics of manufacturing across eight federal districts during 2017–2024. Special attention is given to macroregional sectoral specialization and the impact of economic factors and structural shifts on sustainable production ties between raw material extraction and processing sectors.

The empirical base comprises official statistical data on shipped goods, works, and services in ‘Mining of useful minerals’ and ‘Manufacturing’ activities by federal districts. Correlation-regression analysis methods, along with Spearman’s and Kendall’s rank coefficients accounting for nonlinear effects and time lags, were used to quantify the nature and strength of intersectoral linkages.

The results indicate a substantial positive correlation (0.84–0.99, p < 0.05) between mineral extraction and manufacturing performance in the Southern, Far Eastern, Volga, Ural, Northwestern, and North Caucasian districts, corroborated by regression models. In the Central and Siberian districts, the linkage is weak and statistically insignifi cant due to economic diversification and lower manufacturing dependence on raw material chains.

The identified structural integration in most macroregions underscores manufacturing’s reliance on the raw material base, forming unified production chains. Exceptions suggest alternative growth models with greater resilience to raw material shocks. The practical significance lies in applying the findings to develop regional development and industrial policies, form cluster programs, and justify investment and state support priorities aimed at optimizing cross-sectoral linkages and reducing regional economies’ vulnerability to external shocks.

This study focuses on the challenges of Russian economic development in the current context of a complex geopolitical situation and numerous sanctions aimed at slowing economic growth and declining living standards. In examining this issue, the author shifts focus to the development of tourism and hospitality as the most significant economic sector, highlighting valuable tourism resources, a significant domestic tourism market, thriving small businesses, growing entrepreneurial initiatives, and significant government support. The study analyzes an important macroeconomic indicator, real incomes, which drive demand for tourism and hotel services. Using statistical measurement methods, macroeconomic indicator assessments, and a comparative analysis of the market share of key online booking aggregators for the period 2022–2024, the author concludes that the departure of foreign booking platforms from the market has created a unique situation in the tourism and hotel booking market, which domestic services have quickly taken advantage of, offering consumers not only high-quality services but also a wide range of additional options. The demonopolization of the online booking market, coupled with increased purchasing power, has led to a qualitative change in the tourism and hotel services market and created new opportunities for the widespread adoption of technological innovation. This situation has enabled the creation of a sovereign, independent offering of booking services focused on the development of domestic tourism and has also created conditions for intense competition among online platforms for consumers.This study focuses on the challenges of Russian economic development in the current context of a complex geopolitical situation and numerous sanctions aimed at slowing economic growth and declining living standards. In examining this issue, the author shifts focus to the development of tourism and hospitality as the most significant economic sector, highlighting valuable tourism resources, a significant domestic tourism market, thriving small businesses, growing entrepreneurial initiatives, and significant government support. The study analyzes an important macroeconomic indicator, real incomes, which drive demand for tourism and hotel services. Using statistical measurement methods, macroeconomic indicator assessments, and a comparative analysis of the market share of key online booking aggregators for the period 2022–2024, the author concludes that the departure of foreign booking platforms from the market has created a unique situation in the tourism and hotel booking market, which domestic services have quickly taken advantage of, offering consumers not only high-quality services but also a wide range of additional options. The demonopolization of the online booking market, coupled with increased purchasing power, has led to a qualitative change in the tourism and hotel services market and created new opportunities for the widespread adoption of technological innovation. This situation has enabled the creation of a sovereign, independent offering of booking services focused on the development of domestic tourism and has also created conditions for intense competition among online platforms for consumers.

In modern practice, the basis for setting prices for housing and communal services is the cost set by the municipal authorities, which takes into account only a minimum set of works and services. However, this method does not fully reflect the impact of internal factors, such as the age of buildings and the degree of wear and tear of structural elements, as well as external factors, such as the natural and climatic conditions of the region. The focus is on the number of structural elements, which leads to a simplified and often underestimated calculation of the cost of services. This methodology reduces the competitiveness of management companies (MCs), which take into account all relevant factors and set more reasonable and higher prices. At the same time, MCs that seek to increase their competitiveness in the market by underestimating the cost of services face an imbalance between their revenues and expenses, which negatively affects their fi nancial stability. Additionally, legal restrictions and difficulties in holding meetings of property owners complicate the process of adjusting prices. Therefore, there is a need to improve the pricing methodology by considering the complex impact of internal and external factors. The purpose of this study is to improve the pricing methodology in the housing sector by developing a two-stage approach that includes a theoretical analysis of factors and their mathematical modeling, as well as an expert assessment to enhance the objectivity and practical applicability of the results. The study implemented the second stage of the methodology, which involved the development of a questionnaire and an expert survey to assess the consistency of the theoretical concepts. Based on the obtained data, formulas were proposed for calculating the cost of current repairs in multiapartment buildings, taking into account the influence of internal (building age) and external factors (geological, hydrological, and climatic conditions)

The implementation of the improved methodology allows the management company to identify discrepancies between the cost and frequency of repair work determined based on technical documentation and the data obtained from actual engineering surveys. The results of the study contribute to improving the accuracy of the management company’s financial planning and lay the foundation for sustainable housing development in the long term.

The global economy has long demonstrated an increase in the scale of trade, leading to the openness of economic systems. National economies benefi ted from participation in the international division of labor due to the effects associated with the exploitation of comparative advantage, as discovered by the 18th-century political economist David Ricardo. Recent events indicate that this benefi cial process of global economic integration has come to an end. Here are the key facts: the widespread use of sanctions is turning them into a weapon of war; tariff blackmail, which the US uses to force the world to accept its terms of trade, is disrupting global value chains; the active formation of political and economic unions creates a protective barrier for the global South from the dictate of the global North, but at the same time weakens ties to sources of capital and technology – all of this is evidence of the disintegration of global economic ties, the emergence of a trend toward the localization of trade processes and the closure of economic interactions within local unions. This process has received the not yet widely used term ‘introversion’ in the literature. This study assesses trade introversion within BRICS since its inception. There are many theories regarding the founding of BRICS, ranging from Yevgeny Primakov’s proposal of a multipolar world in 1994 to the fi rst BRICS summit held in Yekaterinburg in 2009. The author favors the latter interpretation. BRICS is characterized by its amorphous nature, informal procedures, and relaxed governance practices. Nevertheless, BRICS has demonstrated a high degree of coordination in the trade policies of its member countries, as demonstrated by the study’s results.

For the purposes of this study, a simple statistical indicator, called the Trade Extroversion Index, was developed due to the fact that an introversion index already exists in the literature. The extroversion index addresses the same objectives as the introversion index, but has signifi cant advantages. UN databases serve as the statistical basis for the calculations.

This article examines the concept of ‘financial culture,’ which is particularly relevant in today’s dynamically developing world. The author draws on various theoretical concepts used to defi ne and measure financial culture and offers a classification of approaches to studying this phenomenon. Particular attention is given to empirical studies aimed at identifying the relationship between financial culture and the socioeconomic characteristics of individuals and society as a whole. The article describes the main areas of research devoted to determining levels of financial culture in various population groups, identifying the factors influencing its development, and evaluating the effectiveness of existing educational initiatives in this area. The author also examines international practices in developing financial culture, analyzing the experience of international authors such as Boyd R., Richardson P., Weber M., Parsons T. O., Rickert G., Scheler M., Stern A., Csorba L., and Hofstede G.

In preparing this article, classical theoretical research methods were applied, such as analysis, synthesis, generalization, classification, and a historical approach, allowing for a thorough examination of the subject and the formation of objective conclusions.

As a result of this study, the author concludes that the development of the concept of financial culture has undergone significant changes. In the 19th century, authors examined financial culture, focusing on the influence of institutional factors (savings, use of classical instruments), but modern research emphasizes the level of financial education, responsibility, and behavioral aspects of individuals in the financial sphere.

The author of the article proposes a framework for financial culture, consisting of the following components: financial literacy, financial skills, attitudes, and human behavior. This framework transforms the abstract idea of financial culture into a concrete object of study that can be measured, analyzed, and used to propose scientifically sound development strategies.

The conclusion highlights prospects for further research in studying the factors influencing the formation and development of financial culture in Russian society.

In the new geopolitical environment, the mineral fertilizer (MF) industry and market have undergone signifi cant changes. This has also affected Russian fertilizer producers, who are forced to diversify their foreign trade relations and reorient themselves toward countries in the Global South–Asia, Africa, and Latin America. This research focuses on the economic relations surrounding the export activities of Russian MF organizations and their strategies for entering foreign markets. This article was prepared using qualitative and quantitative methods, including comparative analysis, statistical analysis and market analytics, economic analysis of MF producers, and text visualization techniques. The extensive information base encompassed publications by Russian and international scholars; analytical materials from agencies, foundations, and associations; data from the Russian Government, Rosstat, and documents from UN and OECD departments. Conclusions were drawn regarding the dynamics of production volumes, exports, and foreign and domestic prices for key mineral fertilizers from 2011 to 2024, as well as the concentration level in three mineral fertilizer markets. Based on the developed classifi cation of types of strategies for foreign trade activities of organizations, the strategies of two leading Russian organizations producing nitrogen and phosphorus fertilizers are characterized. The institutional conditions for implementing export activities were examined. The conclusion presents prospects for the development of the mineral fertilizer industry, taking into account environmental and technological changes. The results of the study may be useful in the planning and analytical work of organizations producing mineral fertilizers, government agencies, and in the educational process in the areas of global economics and international business.

Financial stability is one of the main concepts in the economy of an enterprise, demonstrating its ability to develop, remain competitive and solvent, as well as rationally manage its obligations. Financial stability is a characteristic reflecting the potential of an enterprise and its investment attractiveness. The variety of methods for assessing financial stability leads to the fact that their application gives different and sometimes contradictory results, which is due, among other things, to the lack of emphasis on the specifics of the company’s activities. This highlights the importance of choosing the right methodological approach for assessing this financial condition parameter. The purpose of the study is to develop an analytical tool for assessing financial stability. The object of the study is the financial stability of manufacturing enterprises, and the subject is the analytical tool for assessing it. A comparative analysis of traditional and modern methodological approaches to assessing financial stability revealed the advantages and disadvantages of each approach. The features of production processes at enterprises were systematized, and their possible impact on the structure of resources and indicators of f nancial stability was shown. Correlation and regression analysis was used in the development of the author’s methodology for assessing the financial stability of production enterprises. The proposed methodology takes into account specific factors and eliminates the disadvantages of the most common traditional methodological approaches. The resulting model is significant and clarifying in nature, as it clearly demonstrates the degree of influence of various aspects of the financial and economic activities of the enterprise on its financial stability, which makes it possible to make informed management decisions aimed at minimizing risks and improving the effi ciency of the enterprise as a whole.

The business activity of trading enterprises is the most important indicator of business success, signifi cantly affecting the development and productivity of
companies, as a result of which it needs continuous monitoring and detailed study. Business activity analysis helps to identify problem areas and competitive advantages of retail chain organizations, formulating ways to improve operational effi ciency. Due to the fact that the level of business activity is an indicator of effective resource management and there are many methods for analyzing
business activity, some of which identify it with turnover analysis, this topic is important for research. The object of the study is the business activity of a trade organization; the subject of the study is methodological approaches to the
analysis of the business activity of a trade organization. The object of surveillance is LLC “OKEY”. The study of various scientifi c methods for assessing the business activity of an enterprise has shown that an integrated approach has
the greatest objectivity. For example, the assessment system proposed by D.A. Endovitsky, which characterizes business activity of a complex nature, includes the study of qualitative and quantitative components, dynamic changes,
structure and cash fl ows in all areas of the organization’s functioning, but does not pay due attention to the specifi cs of the industry in which the organization operates. Modern scientifi c publications often underestimate the importance of
taking into account industry specifi cs when assessing business activity, emphasizing the need for further research in this particular area. Taking into account the
specifi c features of the functioning of trading organizations, it is advisable to include in the analysis of their business activity such numerical indicators as asset
turnover in the form of right of use, inventory turnover, accounts receivable and payables, return on investment in rent, as well as qualitative indicators: the breadth of the trading network, the consistency of suppliers of products,
customer satisfaction, competitiveness, business reputation and others.

In the international academic community, U.S. economic statistics enjoy a reputation for exceptional reliability, with the United States consistently placed among the highest-ranked countries for accuracy in measuring GDP dynamics. To evaluate the foundation of this confi dence, the authors draw on their experience conducting alternative GDP estimates for the USSR, Russia, India, and China. This study examines the precision of U.S. economic statistics over the period 1970–1987 in three sectors – industry, construction, and agriculture. GDP volumes at current prices were defl ated using the manufacturing output price index for the processing industries and the fuel-price index for the extractive industries. The resulting alternative estimates of industrial GDP were compared with the offi cial fi gures published by U.S. statistical agencies. The offi cial GDP index in construction was checked based on the dynamics of housing commissioning and the share of housing construction in the total construction volume. In general, the analysis of statistics on the dynamics of US economic GDP confi rmed a high assessment of its reliability for the period 1970–1987, with the exception of price statistics.

Doubts about the reliability of American statistics for 1970–1987 arise when comparing favorable offi cial indicators of GDP dynamics with a large increase in the US national debt and a small (3-4%) share of construction in GDP for the period from 1990 to 2010. To assess the real dynamics of US GDP, natural indicators of production were adopted. They allow us to move on to calculating the dynamics of production in sectors of the economy that raise doubts about their reliability: manufacturing and construction. The greatest diffi culties arose with assessing the dynamics of the service sector. The authors assumed that labor productivity in it remained unchanged.

The calculations of the dynamics of production and labor productivity for 1990-2010 by sectors of the real economy showed an unprecedented drop in labor productivity in American economic history, which indicates deep troubles in the American economy during this period. The calculation of an alternative estimate of GDP dynamics revealed minimal growth indices: by 8% in the 1990s and by 4% in the 2000s, instead of the offi cial growth of 38% in the 1990s and 18% in the 2000s. Both estimates reveal a signifi cant slowdown in economic development in the 2000s. Possible reasons for this are considered. A conclusion is made about the most serious defects of American economic statistics in the period from 1990 to 2010.