For a decade Russia has been dismantling communism and building capitalism. Describing a deeply flawed fledgling market economy, Capitalism Russian-Style provides a progress report on one of the most important economic experiments going on in the world today. It describes Russian achievements in building private banks and companies, stock exchanges, new laws and law courts. It analyzes the role of the mafia, the rise of new financial empires, entrepreneurs and business tycoons, and the shrinking Russian state. Thane Gustafson tells how the Soviet system was dismantled and the new market society was born. He argues that this new society is changing constantly, so that any assessment of success and failure would be premature. Identifying investment as vital to preserving Russia's status as a major industrial power, in his final chapter he examines the prospects for an economic miracle in Russia in the twenty-first century.
• A clear, accessible progress report on Russia's capitalism, written in engaging style, and covering both the process of change, and the nature of the new society • Thane Gustafson is one of the leading authorities on Russia's economy, and is engaged both as an academic and as a business consultant • This book will be useful for both students of Russian politics and economics, but also for non-specialists wishing to gain insight into Russia's transformation (e.g. in business)
1. Revolution or 'crony capitalism'?; 2. Insider privatization and its consequences; 3. Wall Street comes to Moscow; 4. The Russian banks come of age; 5. No capitalism without capitalists; 6. The epidemic of crime; 7. Toward the rule of law; 8. Beyond coping: the recovery of society; 9. The shrinking state and the battle for taxes; 10. Conclusion: halfway to market.
'A tough-minded analysis of Russia's roller-coaster ride from communism to capitalism … Thane Gustafson has pried the lid off the new hybrid Russian economy and provided a rich guide to its players - the super rich, the regional power dons, the empire-builders, and the younger, post-Soviet generation of entrepreneurs and leaders whom he sees as the hope for the future.' Hedrick Smith, Author of The Russians and The New Russians
'Understanding the new Russia begins with this superb book. Thane Gustafson brings 25 years of close study, the scholar's ability for conceptualization, and on-the-ground business experience. The analysis is insightful; the writing crisp and stylish, and the conclusions are provocative, sobering, and no doubt prescient." Eugene K. Lawson, President, US-Russia Business Council
'Based on academic research and firsthand experience, Thane Gustafson has written an insightful, informative, and highly readable analysis of the evolution of the Russian economy in the 1990s. A highly recommended primer on the contemporary Russian economic scene.' Francis Fukuyama, Author of The Great Disruption
'Gustafson has provided us with a highly readable book that will serve as a leading Analysis of the political economy of the Yeltsin era.' International Affairs