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The global financial crisis has swept the entire world causing many major economic powers to enter the economic recession phase.
A number of key figures who bear most of the crisis' responsibility were revealed by some press reports and chief among them is the American people or strictly speaking the American lifestyle.
While the Western World has started to return to Karl Marx's writings and socialism theories, there emerged reports and forecasts in Russia dating back to the twenties of the 20th century and which are based on concepts developed by Russian scientist Nikolai Kondratiev. Those concepts assumed that Capitalism goes up and down every 50 years.
Kondratiev also predicted in 1926 that the world economy would fall again and quickly the entire world, except the former Soviet Union, has recently faced economic stagnation starting from America and it would last till 2015.
Similarly, Russian economist Andrei Kobyakov has predicted the economic meltdown few years ago attributed the causes to the recent large investments in microelectronics industry.
Kobyakov said,:” Market has no longer required such large numbers of computers and mobile phones, consequently, industry growth slowed down at the beginning of the third millennium".
Added to the current global crisis's causes, according to Andrei Kobyakov, are the rash investments by many capitalists in money markets which are in large part placebo economic field.
The Russian economist assured that the only way to get out of the crisis is to develop new methods such as biotechnology as well as nanotechnology.
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