Russian economics

09/06/1999
After almost a decade of capitalism, there are parts of the Russian economy that have not fallen in line, to such an extent that barter is considered critical to the survival of the country's oil and gas sector.The barter system has a number of advantages for the entrepreneur, including lack of monetary risk, overcoming the country's shortage of money, the chance of illicit enrichment, and tax evasion.A typical example of the barter system is the Tutayev engine factory in central Russia, which produces almost nothing, does not make money, and does not pay its labor force; yet it sustains the 50,000 residents of Tutayev.The company, which produced only 222 engines in 1998, rewards ...
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