The development of the theory of industrial crises: the works of Russian economists of Moscow University

The article analyzes the development of the theory of industrial crises in Russian economics. The author considers the stages in forming basic theoretical positions that reveal the causes of the development of economic instability and the periodic recurrence of industrial crises. The task is to highlight the most striking and scientifically sound conclusions of well-known representatives of Moscow University, who have made a profound impact on the development of the theory of crises. Acquaintance with the scientific ideas of I. K. Babst, A. I. Chuprov, A. N. Miklashevsky, A. A. Manuylov, S. A. Pervushin, I. A. Trakhtenberg, Z. S. Katsenelenbaum leads modern economists through the “labyrinths” of their scientific laboratory (the second half of the XIX — early XX centuries), bringing closer to understanding the mechanisms of instability and a clear representation the systemic consequences of the disruption of economic ties during the crisis. A. I. Chuprov, S. A. Pervushin, I. A. Trachtenberg linked the beginning of preparations for the global crisis with the migration of loan capital free of border visas and the expansion of credit relations: “the chain of debt obligations now connects the farms of not only one country, but the whole world”. This statement by A. I. Chuprov reveals one of the key symptoms of the crisis. The author argues that the characteristic feature of the research of Russian economists was an integrated approach to the study of the process of cyclical economic development. The article shows that the systemic approach of Russian economists to the phenomenon of economic instability contributed to the formation of a multidimensional idea of the interaction of microand macroeconomic factors in the industrial cycle, developing a multifaceted macroeconomic understanding of economic processes.

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