Faddei Ilich Mikhalevskii

Born May 15 (27), 1876, in Liakhovichi, present-day Brest Oblast; died Nov. 17, 1952, in Moscow. Soviet economist. Corresponding member of the Academy of Sciences of the USSR (AN SSSR; 1946). Member of the CPSU from 1919.

Mikhalevskii taught from 1894 to 1919. In 1924 he graduated from the Institute of the Red Professoriate (1924). He worked for the directorate of Gosbank (State Bank) of the USSR from 1928 to 1934. At the same time, he taught political economy at a number of institutions of higher learning in Moscow, including Moscow State University, the Institute of the Red Professoriate, the Russian Association of Scientific Research Institutes of the Social Sciences, and the G. V. Plekhanov Institute of the National Economy. From 1940 to 1952 he was a scientific research associate of the Institute of Economics of the AN SSSR.

Mikhalevskii wrote fundamental works on problems in economic theory and on the history of money, monetary circulation, and credit. He made a significant scholarly contribution to the theory of how gold functions as a monetary commodity, and he devised methodological bases for determining the amount of money required for circulation in a socialist economy. He prepared the second part of the third volume of Marx’ Das Kapitalfor publication (1947). Mikhalevskii was awarded the Order of the Red Banner of Labor and various medals.