The study of the political economy of Russia after the collapse of the Soviet Union shows that this country did not have a clear economic strategy or planning. The writings of prominent Russian analysts, including Sergiy Glazev, Sergiy Gubanov, and V ...
The study of the political economy of Russia after the collapse of the Soviet Union shows that this country did not have a clear economic strategy or planning. The writings of prominent Russian analysts, including Sergiy Glazev, Sergiy Gubanov, and Valentin Katasanov, among other economists, indicate that the economic liberalism policies established and continued by Yeltsin have all failed. Privatization led to the rupture of the added value chain in industrial production, the flight of capital from the speculative country, the dominance of the dollar, and the creation of a group of comprador oligarchs who only thought about exporting raw materials. The revenues from oil and gas exports, instead of entering the foreign exchange reserve fund funded by the government, entered the pockets of the governments and the private sector, and the consequences of that have been the spread of poverty, the increase of the class gap, and the extinction of industry. It has followed the assets of the Russian government and one trillion dollars of assets of the Russian oligarchs. This issue has created grounds for changing Russia's economic strategy. Under the pressure of Western sanctions, the Russian government is trying to abandon economic liberalism and regain its economic sovereignty, especially its financial independence. The present work is a selection of articles, discussions, and analyses that are all selected and translated from the Russian language in order to provide the audience with a fairly realistic and comprehensive picture of Russia's economic situation in the last quarter of a century until today.
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