Martin Lutz: L. B. Krasin und Siemens: Deutsch-sowjetische Wirtschaftbeziehungen im institutionenökonomischen Paradigma

L. B. Krasin and Siemens: German-Soviet Economic Relations in the Neo-Institutional Economic Paradigm

Abstract: L.B. Krasin, previously an engineer at Siemens, was one of the leading figures in the Bolshevik revolution. As head of the people’s commissariat of foreign trade, he was responsible for the reconstruction of economic ties with the West. These ties were crucial for the industrial development of Soviet Russia. Krasin was a strong supporter of Lenin’s electrification policy and believed that electricity would make an important contribution to the development of the socialist state. However, the ambitious plan to electrify Soviet Russia could not be achieved without substantial foreign assistance. Therefore Siemens, as one of the world’s largest electro-technical companies, had the potential to play an important role in supplying the equipment and knowledge required for Soviet electrification.

In this article, the relationship between Krasin and Siemens will be analysed using the neo-institutional economic assumptions. The New Institutional Economics theory (NIE) argues that economic performance is linked to the underlying institutional framework of a society. Institutions are the ‘rules of the game’, which define markets and shape economic interaction. Scholars of NIE stress the importance of informal institutions, such as ideology and trust, as a main influence on individual behaviour. It will be argued that the trust between Krasin and Siemens played a crucial role in the way in which the company perceived the business opportunities offered by Soviet electrification. Even so, the relationship between Krasin and Siemens officials could not overcome the company’s distrust of Soviet economic ideology.

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