Russia’s Neo-Feudal Capitalism

  • 2017-05-02
  • Anders Aslund
Vladimir Putin’s Russia is looking more and more like the sclerotic and stagnant Soviet Union of the Leonid Brezhnev era. But in one area, Putin’s regime remains an innovator: corruption. Indeed, in this, the 18th year of Putin’s rule, a new form of crony capitalism has been taking hold. Over the last decade, Putin has overseen a major renationalization of the Russian economy. The state sector expanded from 35 per cent of GDP in 2005 to 70 per cent in 2015. It would seem that, in Lenin’s words, the state had regained control of the “commandin...
 
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