Dissemination and adoption of Western economic ideas in Russia have never been a simple process, always bearing marks of the socio-political and ideological circumstances of the country and inner processes in economics, as well as marks of the national intel-lectual tradition in general. It is not surprising that the history of Austrian economics in Russia was akin to a long road with many windings and turns. We can distinguish three different periods, or waves, each of them rather complex: from the 1890s until the late1920s (introduction and, to a certain degree, adoption and criticism), from the beginning of the 1930s until the mid-1980s (hostile attitude and ignorance), and from the mid-1980s onwards (rediscovery, dissemination, and adoption).