Economy
The textile industry is still the most prominent in modern Pavlovsky Posad. During the 1990s the major part of textile factories were transformed into public corporations, than considered to be bankrupt, and then bought for an understated price by local businessmen. The free float index for these factories is currently extremely low (about 90-95% shares of each factory are owned by one person).
After the dissolution of the Soviet Union, and to present, the textile industry is in a very bad state in Russia, since the competition with Asian countries was too sudden and to strong for them to survive. However, some of the factories survived by finding their narrow product niches. The most famous factory of Pavlovsky Posad - the 'Pavlovo-Posadskaya Manufactura' is still producing traditional Russian kerchiefs and shawls; and since it's the only shawl mass-producing factory in modern Russia, its financial state seem to be rather good. Some other factories survived by concentrating on fire-equipment (such as fire hoses), whereas some other are producing vestments for Orthodox priests.
The second important factory of Pavlovsky Posad - the 'Exciton', that produced Russian personal computers 'BK' in 1980s, is also formally alive, but it seem not to be concerned with electronics any more.
Read more about this topic: Pavlovsky Posad
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)