THEORETICAL HERITAGE OF THE ECONOMISTI. TUGAN-BARANOVSKY
The article is devoted to the creative heritage of theclassic of Russian economic thought M. I. Tugan-Baranovsky.The author considers his merits: a new interpretation of themarkets, a creative explanation of the periodicity of crises,their role in the development of the national economy. Theauthor stresses that M. I. Tugan-Baranovskyis highly appreci-ated by contemporaries as the creator of the modern invest-ment cycle theory. His merit also lies in the fact that he inves-tigated the general trends of the development of capitalismin Russia, was one of the first to conduct a comparative anal-ysis of Russian and Western economies, paid attention to therole of the middle class. The author comes to the conclusionthat the heritage of the prominent economist M. I. Tugan-Baranovsky, as a popularizer of Russian economic thoughtin the West, is of particular importance.