Clifford Gaddy's and Barry Ickes's paradigm of the virtual economy has forced broad recognition of the inadequacies of the intended market reform policies in Russia. Their thesis - that Russia's economy is based on illusion or pretence about nearly every important economic yardstick, including prices, sales, wages and budgets - also sought to provide a framework for understanding how and why so much of Russia's economy has resisted reform.
Clifford Gaddy's and Barry Ickes's paradigm of the virtual economy has forced broad recognition of the inadequacies of the intended market reform poli...