Nikolai Karl Paul von Bunge (, tr. ; ), more commonly known as Nikolai Bunge, was the German-Russian preeminent architect of

Russian Russian(s) refers to anything related to Russia, including: *Russians (, ''russkiye''), an ethnic group of the East Slavic peoples, primarily living in Russia and neighboring countries *Rossiyane (), Russian language term for all citizens and peo ...

capitalism Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, priva ...

under Alexander III. He was a distinguished economist, statesman, and academician of the St. Petersburg Academy of Sciences. He had also served as the rector of the

Kiev University Kyiv University or Shevchenko University or officially the Taras Shevchenko National University of Kyiv ( uk, Київський національний університет імені Тараса Шевченка), colloquially known as KNU ...

and the

Finance minister A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", ...

Biography

Bunge was born to Christian Gottlieb von Bunge from the

Lutheran Lutheranism is one of the largest branches of Protestantism, identifying primarily with the theology of Martin Luther, the 16th-century German monk and Protestant Reformers, reformer whose efforts to reform the theology and practice of the Cathol ...

Bunge family of East Prussian origin, in Kiev and was second generation of Kievan. His grandfather, Georg Friedrich Bunge moved from the Stallupönen to Kiev sometime in the 18th century. Bunge was a professor of the

, of which he served as a dean between 1859 and 1880, when he was summoned to

St. Petersburg Saint Petersburg ( rus, links=no, Санкт-Петербург, a=Ru-Sankt Peterburg Leningrad Petrograd Piter.ogg, r=Sankt-Peterburg, p=ˈsankt pʲɪtʲɪrˈburk), formerly known as Petrograd (1914–1924) and later Leningrad (1924–1991), i ...

to become a deputy minister and then (since 1881) Minister of Finance. Five years later, he became Chairman of the Cabinet of Ministers, the highest position in the civil administration of the

Russian Empire The Russian Empire was an empire and the final period of the Russian monarchy from 1721 to 1917, ruling across large parts of Eurasia. It succeeded the Tsardom of Russia following the Treaty of Nystad, which ended the Great Northern War. ...

. Bunge undertook a number of reforms with the aim of modernizing the Russian economy. He consolidated the banking system of the Empire and founded the Peasants' Land Bank (1883) which helped peasants to purchase land. He introduced important

tax law Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a ...

changes which seriously reduced the tax burden of the peasantry. The head tax was abolished and the inheritance tax was introduced. Bunge's policies towards the Russian industries were extremely

protectionist Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. ...

. He promoted the construction of railways and spearheaded the first Russian labour laws, some of them aimed at reducing child labour. However, in 1887 under pressure of conservative deputies, accusing him of incompetence and incapability to overcome the budgeted deficit, N.K. Bunge resigned.

References

{{DEFAULTSORT:Bunge, Nikolay 1823 births 1895 deaths People from Kievsky Uyezd People from the Russian Empire of German descent Heads of government of the Russian Empire Finance ministers of Russia Government ministers of Russia Members of the State Council (Russian Empire) Economists from the Russian Empire Taras Shevchenko National University of Kyiv alumni Full members of the Saint Petersburg Academy of Sciences Honorary members of the Saint Petersburg Academy of Sciences Rectors of Taras Shevchenko National University of Kyiv Recipients of the Order of St. Vladimir, 1st class