Russian Roulette: Russia's Economy in Putin's Era

Cover Russian Roulette: Russia's Economy in Putin's Era
Russian Roulette: Russia's Economy in Putin's Era
Vaknin Samuel
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The middle class is Russia's most important engine of wealthformation and investment, far outweighing foreign capital.
Russia's post-1998 fledgling middle class is described as young, well-educated, well-traveled, community-orientated, entrepreneurial andsuffused with work ethic and a desire for social mobility. It is almostas if the crisis four years ago served as a purgatory, purging sins andsinners alike and creating the conditions for the revival of ahealthier, longer-lived, bourgeoisie.
Bu
...t being middle class is a state of mind more than a measure ofwealth. It is an all-encompassing worldview, a set of values, a code ofconduct, a list of goals, aspirations, fantasies and preferences and acatalog of moral do's and don'ts. This is where transition, micromanaged by western "experts" failed.
The mere exposure to free markets was supposed to unleash innovationand entrepreneurship in the long-oppressed populations of east Europe. When this prescription - known as "shock therapy" - bombed, the Westtried to engender a stable, share-holding, business-owning, middleclass by financing small size enterprises.


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