Media release: FMF mourns the loss of economist Yuri Maltsev

27 January 2023

Gail Day

The FMF is an independent, non-profit, public benefit organisation, created in 1975 by pro-free market business and civil society national bodies to work for
a non-racial, free and prosperous South Africa.
As a policy organisation it promotes sound economic policies and the principles
of good law. As a think tank it seeks and puts forward solutions to some of the country’s most pressing problems: unemployment, poverty, growth, education, health care, electricity supply, and more. The FMF was instrumental in the post-apartheid negotiations and directly influenced the Constitutional Commission to include the property
rights clause: a critical cornerstone of economic freedom.

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PO Box 4056, Cramerview 2060

FMF mourns the loss of economist Yuri Maltsev

The Free Market Foundation (FMF) mourns the death of Yuri Maltsev, Professor of Economics at Carthage College and Senior Fellow at the Ludwig von Mises Institute in the United States, and long-time friend to the Foundation. Prof Maltsev received the first FMF Luminary Award in 2014 for his tireless dedication to upholding liberty and the inspiration he brought to the people whose lives he touched.

Watch Prof Maltsev’s acceptance speech, titled ‘The savagery of socialism’, here:

Prof Maltsev has been in South Africa multiple times, not only to address the FMF but other organisations participating in advocacy for freedom, usually warning against the dangers of socialism and authoritarianism. Maltsev was born and educated in the Soviet Union, and there acted as an economic policy advisor to Mikhail Gorbachev. He worked on Gorbachev’s economic reform package of perestroika.

Maltsev defected to the United States in 1989.

"Yuri made it his task to warn the world about the evils of twisted minds that he found wherever he travelled. He was very fond of visiting the FMF when in South Africa, where he found friends who understood his warnings and took them seriously." said FMF Director, Eustace Davie.

FMF Director Temba Nolutshungu said: "My heart is aching. The first time I met Yuri was when he invited me to address a group of students from his university.  The event became an annual happening. He was for me an intellectual resource. It is so unbearably sad."
The Board and Executive Committee of the FMF wishes Prof Maltsev’s relatives and loved-ones strength during this difficult time.

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