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Kremlin Capitalism - Privatizing the Russian Economy (Paperback, New)
Loot Price: R1,363
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Kremlin Capitalism - Privatizing the Russian Economy (Paperback, New)
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The first book to describe Russia's massive economic transformation
for an American audience, Kremlin Capitalism provides a wealth of
data and analyses not previously available in this country. The
authors articulate the political and economic goals of Russian
privatization, examine the current ownership of the largest
enterprises in Russia, and chart the serious problem of corporate
governance in the new private businesses. Kremlin Capitalism is
based on the only continuous study of Russian privatization
throughout the Russian Federation from 1992 to the present. The
authors tracked down the story of the transition in the cities,
towns, and villages of fifty of Russia's eighty-nine provinces,
updating their findings after the June 1996 election. The result is
an up-to-the-minute report of the largest property transfer in
history and an analysis of one of this century's most significant
economic transformations. The volume also characterizes the
position of workers in terms of unemployment, wages, union power,
and their changing role as employee shareholders.What really
happened when Russia privatized its economy? The Kremlin brokered
the initial struggle among different interest groups eager to claim
a portion of Russian property: workers, managers, the Mafia, the
old Soviet bureaucracy, regular citizens, entrepreneurs, Russian
banks, and foreigners. While competing with one another, all
struggled to free themselves from seventy years of Communist
economic culture. Four years after the process began, have large
companies learned to offer goods and services profitably and pay
dividends to shareholders? Individual stories come alive as the
book explores problems Russians face in structuring a new economic
system, defining the ownership and governance of thousands of
corporations one by one. Russian economic practices are being
forged in the heat of fierce political struggles between resurgent
Communists and nationalists and old Soviet managers, on the one
hand, and more liberal elements of its infant democratic system on
the other. Whether a few big conglomerates and the powerful banks
and holding companies from Soviet days will dominate the new
Russian economy to the exclusion of most citizens remains to be
seen.Many questions persist. How will billions of dollars of
capital be raised to retool, restructure, and reorient the heart
and soul of Russia's economy? Will open stock markets stimulate a
new economic order or will that new order be imposed through strong
state supports and subsidies? What role will be played by shadowy
conglomerates that are trying to shape a disorganized economy into
something resembling the old Soviet system? The authors note the
paradox of a capitalism conceived, designed, implemented, and
evaluated by the Kremlin when one aim of reform is to allow market
forces to play freely. Kremlin Capitalism asks whether rapid
privatization has catalyzed or complicated the transition to a more
liberal political and economic system, a question that will
reverberate for decades.
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