Remarks on fair wealth accumulation in Russia |
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Authors: | Email author" target="_blank">Vladislav?V?SavinEmail author Elena?A?Rovenskaya |
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Institution: | (1) Energy Research Institute of the Russian Academy of Sciences, ul. Nagornaya, 31-2, 117186 Moscow, Russia;(2) VMK Faculty, Moscow State University, Leninskie Gory, MSU, 2-nd Educational Building, Moscow, Russia;(3) International Institute for Applied Systems Analysis, Laxenburg, Austria |
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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 through impulse type of wealth development. |
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