Lost Giant

Author: Hough
Publisher:
Publish Date: 2003-01-01
Features: For Russia, the 1990s were a period of social, political, and economic turbulence. Although it was claimed that Russia would quickly achieve a fully market economy, the former superpower plunged into an economic depression, with vast assets being recklessly plundered by oligarchs and tycoons connected to the government. After people began to see through the absurdity of the optimistic predictions about Russia's economic reforms made by some world-famous economists, scholars started searching for who should bear the blame for "losing" Russia. In this work, Jerry Hough insists that Russia's free-market economy was not ruined by individuals or a single force, but rather by a combination of factors, including Yeltsin's political influence on financial institutions and people's many mistaken assumptions about a free-market economy, which dimmed the star of Russian capitalism. This book demands that readers go beyond conventional wisdom and approach the economic disaster of a country on a unique path with fresh eyes.
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