Describe the economic situation in 1855

Declan Wiseman
Mind Map by Declan Wiseman, updated more than 1 year ago
Declan Wiseman
Created by Declan Wiseman about 5 years ago
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The state of the Russian economy by 1855

Resource summary

Describe the economic situation in 1855
  1. Quotes
    1. "Wasteland behind Europe's back yard" Alexander Grinevsky
      1. Backward
    2. Labour
      1. 11:1 village to town dwellers vs Britain, 2:1
        1. Small middle class
          1. No entrepreneurs or wealth creators
            1. High unemployment
          2. Serfs starved during winter due to inefficient strip farming
          3. Goods and the economy
            1. Reliant on agriculture
              1. Main exports: raw materials
                1. Coal, timber, oil etc
                2. Self-sufficient- peasants could live without entering the market
                  1. Reliant on serfs, free labour
                    1. Slow economic growth
                      1. Low incentive
                        1. Serfs no wage
                          1. Trading more common than money
                          2. Much of Russia inhospitable
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