Alex Royt
I'm an economic historian of finance, researching the Soviet Union and self-proclaimed socialist financial systems. I'm currently a Research Fellow at the Business, Economic and Financial History Project at the Wharton Initiative for Financial Policy and Regulation at the University of Pennsylvania. I'm also a member of the Deutsche Forschungsgemeinschaft (DFG) Money in Socialism, a scientific network aimed at establishing new methods and datasets for historic and economic analysis of state-socialist financial systems.
My work has examined parallel systems of credit creation and financial settlement which emerged within state-socialist economies like the Soviet Union, allowing financial claims to expand independently of material production. This shadow banking sector allowed enterprises to generate and circulate claims through accounting practices rather than completed exchange.