Yegor Gaidar was a Russian economist and politician, and was the Acting Prime Minister of Russia from June 15, 1992 to December 14, 1992. While in government, Gaidar advocated liberal economic reforms. His most well-known decision was to abolish price regulation by the state, which immediately resulted in a major increase of prices and amounted to officially authorizing a market economy in Russia.Mr. Gaidar was accomplished and respected among the group of young Russian economists trained in Wester economic techniques. The Institute for Economic Policy of the Academy of National Economy and the Academy of Sciences of the USSR was established in 1990 and renamed as the Institute for the Economy in Transition (IET) in 1992. Mr. Gaidar was its creator and permanent director until December 2009 Series: "UC Berkeley Graduate Lectures" [Business] [Show ID: 23321]