Alex Martynov   
On pundits

One of the foremost (at least, the most vocal) proponents of expansionary policy in Ukraine is the ex-vice-president of National Bank of Ukraine (NBU), Serhiy Yaremenko. In his speeches and articles he blames free markets, liberal model of economy (and here liberal mean more or less classical liberal) WTO, IMF, and God knows what else for the mess we are currently in.

In his last piece he screeches:

The main reason behind withering of Ukrainian industry is the developmental model of market fundamentalism or wild capitalism.

I don't know if he is just an admirer of Soros (considering Soros-like vocabulary) or maybe he is some kind of Soros's employee, but one have to wear some weird glasses to spot any kind of capitalism in Ukraine. But capitalism in Ukraine is the subject for some other time. The interesting part is what Mr. Yaremenko think we should do to restrain than "wild capitalism". He's calling for "state capitalism". Well, that's especially interesting, knowing that "state capitalism" is the term modern lefties invented to refer to Soviet Union economic model. I don't think Mr. Yaremenko understands what really his propositions imply, but even that terminological symbolism is quite astonishing.

So, what's the plan?

"In the opinion of international experts," he continues, "a following trends would be the most important in the conditions of worldwide financial and economic crises: development of domestic markets, intensification of economic planning, growing role of state regulation, financial system reform, diversification of national economies - contarary to idea of globalisation.

Wow, what a recommendations! Protectionism, planned economy, regulation, inflationary monetary policy (that's what he means by financial reform), abolition of the international division of labor. That doesn't seams like a yellow brick road. But the saddest thing that this joker is considered an expert here.

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