Remarks on fair wealth accumulation in Russia

Savin VV & Rovenskaya E (2011). Remarks on fair wealth accumulation in Russia. Environment, Development and Sustainability 13 (5): 923-937. DOI:10.1007/s10668-011-9298-4.

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Abstract

The paper addresses the topic of wealth accumulation in Russia. This phenomenon plays an important role for the understanding and forecasting the future economic and social development of the country. The "westernized" paradigm calls for hard honest work during the life and approves getting a reward in a form of wealth in the end. When brought to Russia, this paradigm faces the orthodox traditions and rules together with the post-soviet mental patterns. In this paper, we consider how the pattern "first accumulate wealth, then consume it" competes with its opposition, the pattern "first consume wealth, then accumulate it" in Russia. We base our discussion on the consumers' simple optimization problem, which exhibits a bifurcation between those two patterns depending on the relation between the consumption "impatience" and the wealth growth rate. We also suggest a framework to model the phenomenon of unfair wealth though impulse type of wealth development.

Item Type: Article
Uncontrolled Keywords: Dynamical consumption optimization; Fair wealth accumulation; Russia
Research Programs: Advanced Systems Analysis (ASA)
Bibliographic Reference: Environment, Development and Sustainability; 13(5):923-937 (October 2011) (Published online 13 April 2011)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 08:45
Last Modified: 23 Feb 2016 10:47
URI: http://pure.iiasa.ac.at/9605

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