Mikhail Andreyevich Balugyansky (1769-1847)

The emergence of traditional political economy was a turning point in the history of global economics. Russia was among the first countries where the ideas of Adam Smith and his followers met interest and enthusiasm. There was a historical irony in the fact that in the country which still hadn’t abolished serfdom there appeared a thinker who elaborated the ideas of economic liberalism in an original way, thus becoming of the first advocates of economic freedom in Russia.