Lev S. Vygotsky: The Man and the Era

Our interpretive essay situates the life and thought of the famed psychologist-educator, Lev S. Vygotsky within the confines of the frequently deadly political and ideological struggles taking place in the Soviet Union during the 1920s and 1930s. We analyze from a psychological point of view Vygotsky's rise and fall in a situation of revolutionary social change, class struggle, class hatred, ideological warfare, deliberately induced mass starvation, and the development of a totalitarian state based on the systematic use of terror. Whereas most Western psychologists have given minimal attention to the political and educational purposes for which Vygotsky's psychology was created, we emphasize that his Marxist orientation had a central influence both on his scientific preoccupations and on the course of his life. His revolutionary identity was anchored in a highly dynamic community with shared goals possessing a semi-sacred quality. Consequently, he experienced his later exclusion from this community as a kind of social and spiritual death.     

International Financial Integration and Its Distinctions in Transition Economies

We discuss the main tendencies and forms of international financial integration in both developing and developed economies. Integration of financial markets is a topic of economic debates especially for developed and transition economies, particularly Armenia, because it is the most effective way of overcoming the main problems of financial-sector development of transition economies. But there are many problems on the way of financial integration, which are summarized into four groups: institutional problems, legislative problems, macroeconomic instability, and technical problems. All of these problems are analyzed in the article for Armenia, though they are quite relevant for most transition countries.      

Tax Reforms as Capital Market Development Factor

The article presents the preconditions of Armenian capital market development. A few hypotheses are proposed concerning correlation between direct taxes (in particular, profit tax and income tax) and financial sector development mediated with shadow economy. On the basis of studied theories and our empiric research (regression analysis of key indicators), our hypotheses were proven. So for the further development of Armenian capital market we consider it necessary to depart from profit tax, concurrently reducing income tax and social security tax rates.