The article contains the analysis of the views of the Nobel laureate in economics Ronald Coase (1910–2013) as the founder of neo-institutionalism. it provides a comparative description of the “old” and “new” institutionalism and shows the relationship and difference between neoclassicism and neo‑institutionalism. I analysed in detail the most famous articles of Coase and, first of all, “The Nature of the Firm” and “The Problem of Social Costs”. in these works, Coase showed that in the absence of transaction costs there is no economic novelty for the existence of a firm, in the second — that in the lack of transaction costs the legal system does not matter. With an exact specification of property rights, the market economy itself is able to cope with environmental pollution without resorting to government intervention, adjusting taxes and subsidies. The article shows the history of lighthouses in economic theory. Usually, the lighthouse is listed as a purely public good. Ronald Coase shows that even a public good — like lighthouses —was paid for by shipowners. The last part is devoted to essays on economics and economists.

The year 2020 demonstrates another surge of civil non-conventional activism in the world due to the epidemiological situation and related government restrictive measures. in Russia, at the background of the “Corona-crisis” and falling real incomes, retail lending to households continues to proliferate, along with an increase in their overdue debt. The deteriorating economic well-being of Russians raises questions about the possibility of an increase in political protest behaviour of citizens and how much their readiness for it is affected by the deteriorating financial situation due to difficulties in paying off their loan obligations. The authors used the methods of cybermetric analysis and mass survey, examines the perception of the credit problem by Russians, their assessment of its causes and “culprits” (the state, banks and borrowers themselves). The paper also notes some trends of mutual conditionality at the individual level of credit attitudes of Russians, their financial prosperity and readiness to participate in various forms of pro-government and opposition political activity. The authors conclude that the most common conservative model of credit behaviour among Russians contributes to the latent deterioration of the subjective well-being of borrowers that not always leading to a decrease in credit payments. It, in turn, leads to a desire to share responsibility for these difficulties with creditors and the state and, probably, increases the readiness for protest activism.

This article touches on several polarising subjects in the world environmental crisis. The author attempts to classify the main ideas that can have the same venomous level of disagreements, such as the issue of climate change or global warming. The argument is supported by a healthy majority of people who work in the field with a vocal minority of dissenters as well. The article starts with models about economic growth and the energy industry and how those interact to produce carbon emissions. The author tries to analyse models of how carbon emissions affect climate. Finally, the article outlays the models of how climate affects economic output and health projecting into the future. The research concludes by adding some additional models of how policy changes might affect all of this.

The research team, consisting of a political scientist and two young international finance specialists, made an interdisciplinary investigation on Sberbank to understand the prerequisites of its current state. To achieve this, the authors checked the history, principles of operation and the relationship of Sberbank with different political institutions, including the national state as the main one of these. We discovered that Sberbank changed drastically parallel to the changes of the state — founded as a transparent, stable saving institution during tsarist Russian Empire it absorbed all the controversy of later epochs with its “crescendo” in the 1990s. Much has been already saying about the citizens’ deposits, made before 1991 and later claimed “burnt” or “zeroed”, but the authors tried to add some arguments trying to represent alternative points of view and calculate the scales of citizens’ financial losses. The paper contains the analysis of the most important facts and stages of development of the organisation since the foundation till recent years.

The Eurobond market is one of the main sources of raising international finance for leading Russian corporations and financial institutions. I presented the general description of the structural parameters of Eurobonds, as well as the main phases of the issuing process. The focus of this article is on the documentation aspects of the Eurobond market, since preparing the legal documents is one of the key goals of the transaction execution process. An overview of the primary Eurobond documents is provided, including the Prospectus, the Mandate & Engagement Letters, the Trust deed, the issuing & Paying Agency Agreement, the deed of Covenant. The roles and functions of the involved parties (issuer, Arranger, dealers, Legal Counsels) and the documentation process of Eurobonds which I described in detail. Also, I presented a comparison of issuing Eurobonds utilising stand‑alone documentation or Euro Medium Term Note Programme. The purpose of setting up a programme is to enable Eurobonds to be issued quickly and efficiently and, by using one set of documentation, to reduce the amount of paperwork and management time for the issuer.

The article presents the results of an empirical study of the features of evaluating advertising of banking products. 99 respondents with a different experience of borrowing behaviour, aged 18 to 66, 37 per cent males, were assessed. The respondents were asked to rate, using the semantic differential methodology, two pictures depicting mortgage advertisements from VTB and Otkritie banks. By comparing the average values of the ratings, we found that advertising for banking products is evaluated more negatively, even if the ideal option is presented. Actual advertising images are rated significantly lower than ideal images — people with real experience of taking loans rate advertising for banking products as more benevolent.

Theory, which most accurately captures reality, is a fundamental prerequisite of any analysis of some phenomenon, even hypothetical ones. if dialectical laws of motion exist than, how dialectics of reality express itself in the human mind, i.e. in the form of man’s thoughts (categories)? How we ought to read Marx? I prefer to read all of Marx’s manuscripts, where he made a vast number of notes, comments, etc. These writings were “for himself”, for “clarification for himself”. They are draft research papers intended to clarify things for him. For example, in Grundrisse is Marx’s talking to yourself. It does not only reflect results but, first of all, the process of their emergence. The most interested are so-called digressions, unexpected retreat from the main theme. It was not isolated provocation Jacques Derrida’s affirmation of 1994, that “it will always be a fault not to read and reread and discuss Marx”.