Critical Realism and Russian Economic Thought (Republication)

The current stage of development (the article was written in 2008-2009 - editor's note) of critical realism in the West reflects the methodology developed by the Tsagolov school of political economy at Moscow University in the 1960s. Each school was inspired by Marx's legacy, but Tsagolov's approach is more general, being equally applicable to both socialism and capitalism. Political factors prevented Tsagolov's methodology from bearing fruit in the Soviet Union. In today's freer environment, it represents the basis for possible future developments in Russian and post-Keynesian economic thought.