Home  Journals  Finance and Credit  43(379) - 2009 November

Moral institutions in M. F. Orlov’s financial ideas and public activities

Available online: 26 November 2009

Subject Heading: History pages

JEL Classification: 

The theory of state credit, written by M.F. Orlov 175 years ago, had been reappraised a few times, its evaluation ranging from absolutely negative opinions to most flattering remarks. A similar contrast is characteristic of M.F. Orlov’s life: he had been through a breathtaking career rise on the one hand and retirement, disfavour, disregard by scientific circles and society on the other. The reason of such extreme attitudes to M.F. Orlov and his financial theory should be looked for within the institutional theory. M.F. Orlov’s case has not been studied by this theory so far, but his experience may serve as an example in order to explain scientific and practical financial competence in modern society.

Keywords: M.F. Orlov, institutions, history, state finance

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