Karl marx was a German economist and philosopher, who founded the communist movement. He believed that the, capitalist class exploited the proletariat class. The bourgeoisie or the capitalist class were the owners of the means of production and thus provided employment to the wage labourers. The proletariat, in turn were the class of wage labourers,… Read more

On 17th august 1998, financial crisis had hit Russia. It occurred just when economic development and macroeconomic stabilization began to succeed. Since the 1980’s, the year 1997 was the first year, when positive GDP growth was recorded. The rate of inflation reduced to 11% which was a low figure compared to the inflation rates in… Read more