Describe the economic situation in 1855

Describe the economic situation in 1855

1. Quotes

   • "Wasteland behind Europe's back yard" Alexander Grinevsky
     • Backward

2. Labour

   • 11:1 village to town dwellers vs Britain, 2:1
   • Small middle class
     • No entrepreneurs or wealth creators
       • High unemployment
   • Serfs starved during winter due to inefficient strip farming

3. Goods and the economy

   • Reliant on agriculture
   • Main exports: raw materials
     • Coal, timber, oil etc
   • Self-sufficient- peasants could live without entering the market
   • Reliant on serfs, free labour
   • Slow economic growth
     • Low incentive
       • Serfs no wage
       • Trading more common than money
     • Much of Russia inhospitable