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Reforming America with a Russian Map : How the Russian Transition Influenced Contemporary Economics

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이 논문은 1990년대 국가 주도로 전환되는 경제활동 경험이 거시경제 이론에 어떤 영향을미쳤는지를 보여준다. 미국의 경제 분석가들은 소련의 붕괴를 조직적인 개혁 패키지를 실행할하나의 기회로 간주했다. 이 개혁자들에 따르면, 경제 개발은 아무렇게나 이루어지는 것이 아니다. 주식 시장이 아무렇게나 관리되지 않는 것처럼 말이다. 개발도상국들은 부패로 인해 많은 문제가 생겼지만, 이런 결점이 부패와 관련됐을 수도 있고관련된 모형이 만들어졌을 수도 있다. 투자자들이 전문 투자가와 비전문 투자가들 사이에서 전략적으로 움직일 수 있게 되자, 사회 전문가들도 부패한 정치가와 무지한 사람들 사이에서 최선의 사회적 균형을 선택하기 위해 전략적으로 움직일 수 있게 되었다경제를 위기로부터 지키기 위해서 만든 엘리트 경제학자들의 개념들이 대공황이 그동안 있었던 기본 경제 개념에 반한 듯이 보였을 때 지지를 얻었다.

Abstract

This paper demonstrates how the experience of transforming state-dominated economies in the 1990s influenced macroeconomic theory. U.S. economic advisers viewed the Soviet collapse as an opportunity to conduct a coordinated package of reforms. According to these reformers, economic development does not happen spontaneously, just as the stock market is not governed by randomness. Developing societies are plagued by systemic corruption, but this defect can be accounted for and modeled. As the investor can maneuver between the smart money and ignorant traders to get ahead of wild swings, the social planer can move between corrupt politicians and a misinformed populace to select an optimal societal equilibrium. The notion that elite economists can get ahead of the noise to shepherd the economy out of crisis gained acceptance when the Great Recession seemed to discredit mainstream economics.

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