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Putinomics: Power and Money in Resurgent Russia

Frank Butler

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In the wake of the collapse of the Soviet Union, Russia has undergone a remarkable transformation. Under the leadership of Vladimir Putin, the country has emerged as a major player on the world stage, with a growing economy and a resurgent military. However, this resurgence has come at a price. Putin's rule has been marked by widespread corruption, kleptocracy, and the suppression of dissent.

Putinomics: Power and Money in Resurgent Russia

by Chris Miller

4.2 out of 5

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In his new book, Putinomics: Power and Money in Resurgent Russia, Anders Åslund provides a comprehensive analysis of the relationship between power and money in Russia under Putin's rule. Åslund argues that Putin has created a system of kleptocracy, in which the state is controlled by a small group of oligarchs who have enriched themselves through corrupt practices. This system has led to a decline in economic growth and a rise in inequality.

The Kleptocratic State

At the heart of Putin's system of governance is the kleptocratic state. Kleptocracy is a system of government in which the state is controlled by a small group of individuals who use their positions to enrich themselves. In Russia, this group is known as the "siloviki," a term that refers to the former security and military officials who have come to dominate Putin's inner circle.

The siloviki have used their positions to amass vast fortunes, often through corrupt practices such as extortion and embezzlement. They have also used their control of the state to suppress dissent and silence their critics.

The Oligarchs

The oligarchs are another key component of Putin's system of kleptocracy. Oligarchs are wealthy individuals who have close ties to the government and who have benefited from the privatization of state assets. In Russia, the oligarchs have played a major role in the development of the country's economy, but they have also been accused of corruption and self-enrichment.

Putin has relied on the oligarchs to support his regime, but he has also been careful to keep them in check. The oligarchs are not allowed to challenge Putin's authority, and they must be willing to share their wealth with the siloviki.

The Impact of Putinomics

Putin's system of kleptocracy has had a significant impact on Russia's development. The concentration of wealth in the hands of a small group of individuals has led to a decline in economic growth and a rise in inequality. The corruption and cronyism that are endemic to the system have also made it difficult for businesses to operate and for ordinary citizens to access basic services.

Putin's rule has also had a negative impact on Russia's relations with the United States. The United States has accused Russia of human rights abuses, electoral interference, and aggression against its neighbors. In response, the United States has imposed sanctions on Russia and has increased its military presence in the region.

Putinomics is a timely and important book that provides a comprehensive analysis of the relationship between power and money in resurgent Russia. Åslund argues that Putin has created a system of kleptocracy that has led to a decline in economic growth, a rise in inequality, and a deterioration in Russia's relations with the United States. Putinomics is a must-read for anyone who wants to understand the challenges facing Russia today.

Putinomics: Power and Money in Resurgent Russia

by Chris Miller

4.2 out of 5