Putinomics

When Vladimir Putin first took power in 1999, he was a little-known figure ruling a country that was reeling from a decade and a half of crisis. In the years since, he has reestablished Russia as a great power. How did he do it? What principles have guided Putin's economic policies? What patterns can be discerned? In this new analysis of Putin's Russia, Chris Miller examines its economic policy and the tools Russia's elite have used to achieve its goals. Miller argues that despite Russia's corruption, cronyism, and overdependence on oil as an economic driver, Putin's economic strategy has been surprisingly successful. Explaining the economic policies that underwrote Putin's two-decades-long rule, Miller shows how, at every juncture, Putinomics has served Putin's needs by guaranteeing economic stability and supporting his accumulation of power. Even in the face of Western financial sanctions and low oil prices, Putin has never been more relevant on the world stage.

This book sheds new light on the political economy of Russia under Putin’s rule. The author, a former EU diplomat, presents a historical review of the Russian economy and 60 years of state-communist mismanagement, followed by oligarchic privatization. The book offers profound insights into Putin’s rule and the power mechanics of the state-dominated management of the Russian economy. It identifies and assesses the lack of rule of law, together with an arbitrary and often corrupt administration that systematically discourages entrepreneurship and the emergence of an independent middle class. Furthermore, the book discusses Russia’s budgetary policy, its dependence on the export of natural resources, state-owned enterprises and their privileges, and Russia’s external trade. This hard-hitting, substantial analysis debunks the myth of Russia’s economic might and is a must read for anyone seeking to understand the economic realities of the Eurasian continent, or considering doing business with Russia.

For half a century the Soviet economy was inefficient but stable. In the late 1980s, to the surprise of nearly everyone, it suddenly collapsed. Why did this happen? And what role did Soviet leader Mikhail Gorbachev's economic reforms play in the country's dissolution? In this groundbreaking study, Chris Miller shows that Gorbachev and his allies tried to learn from the great success story of transitions from socialism to capitalism, Deng Xiaoping's China. Why, then, were efforts to revitalize Soviet socialism so much less successful than in China? Making use of never-before-studied documents from the Soviet politburo and other archives, Miller argues that the difference between the Soviet Union and China--and the ultimate cause of the Soviet collapse--was not economics but politics. The Soviet government was divided by bitter conflict, and Gorbachev, the ostensible Soviet autocrat, was unable to outmaneuver the interest groups that were threatened by his economic reforms. Miller's analysis settles long-standing debates about the politics and economics of perestroika, transforming our understanding of the causes of the Soviet Union's rapid demise.

A new history shows that, despite MarxismÕs rejection of money, the ruble was critical to the Soviet UnionÕs promise of shared prosperity for its citizens. In spite of Karl MarxÕs proclamation that money would become obsolete under Communism, the ruble remained a key feature of Soviet life. In fact, although Western economists typically concluded that money ultimately played a limited role in the Soviet Union, Kristy Ironside argues that money was both more important and more powerful than most histories have recognized. After the Second World War, money was resurrected as an essential tool of Soviet governance. Certainly, its importance was not lost on Soviet leaders, despite official Communist Party dogma. Money, Ironside demonstrates, mediated the relationship between the Soviet state and its citizens and was at the center of both the governmentÕs and the peopleÕs visions for the maturing Communist project. A strong rubleÑone that held real value in workersÕ hands and served as an effective labor incentiveÑwas seen as essential to the economic growth that would rebuild society and realize CommunismÕs promised future of abundance. Ironside shows how Soviet citizens turned to the state to remedy the damage that the ravages of the Second World War had inflicted upon their household economies. From the late 1940s through the early 1960s, progress toward Communism was increasingly measured by the health of its citizensÕ personal finances, such as greater purchasing power, higher wages, better pensions, and growing savings. However, the increasing importance of money in Soviet life did not necessarily correlate to improved living standards for Soviet citizens. The Soviet governmentÕs achievements in Òraising the peopleÕs material welfareÓ continued to lag behind the WestÕs advances during a period of unprecedented affluence. These factors combined to undermine popular support for Soviet power and confidence in the Communist project.

How the West’s obsession with Vladimir Putin prevents it from understanding Russia It is impossible to think of Russia today without thinking of Vladimir Putin. More than any other major national leader, he personifies his country in the eyes of the world, and dominates Western media coverage. In Russia itself, he is likewise the centre of attention both for his supporters and his detractors. But, as Tony Wood argues, this focus on Russia’s president gets in the way of any real understanding of the country. The West needs to shake off its obsession with Putin and look beyond the Kremlin walls. In this timely and provocative analysis, Wood explores the profound changes Russia has undergone since 1991. In the process, he challenges several common assumptions made about contemporary Russia. Against the idea that Putin represents a return to Soviet authoritarianism, Wood argues that his rule should be seen as a continuation of Yeltsin’s in the 1990s. The core features of Putinism—a predatory elite presiding over a vastly unequal society—are in fact integral to the system set in place after the fall of Communism. Wood also overturns the standard view of Russia’s foreign policy, identifying the fundamental loss of power and influence that has underpinned recent clashes with the West. Russia without Putin concludes by assessing the current regime’s prospects, and looks ahead to what the future may hold for the country.

In The Long Hangover, Shaun Walker provides a deeply reported, bottom-up explanation of Russia's resurgence under Putin. By cleverly exploiting the memory of the Soviet victory over fascism in World War II, Putin's regime has made ordinary Russians feel that their country is great again.Shaun Walker provides new insight into contemporary Russia and its search for a new identity, telling the story through the country's troubled relationship with its Soviet past. Walker not only explains Vladimir Putin's goals and the government's official manipulations of history, but also focuseson ordinary Russians and their motivations. He charts how Putin raised victory in World War II to the status of a national founding myth in the search for a unifying force to heal a divided country, and shows how dangerous the ramifications of this have been.The book explores why Russia, unlike Germany, has failed to come to terms with the darkest pages of its past: Stalin's purges, the Gulag, and the war deportations. The narrative roams from the corridors of the Kremlin to the wilds of the Gulags and the trenches of East Ukraine. It puts theannexation of Crimea and the newly assertive Russia in the context of the delayed fallout of the Soviet collapse.The Long Hangover is a book about a lost generation: the millions of Russians who lost their country and the subsequent attempts to restore to them a sense of purpose. Packed with analysis but told mainly through vibrant reportage, it is a thoughtful exploration of the legacy of the Soviet collapseand how it has affected life in Russia and Putin's policies.

Because the turbulent trajectory of Russia's foreign policy since the collapse of the Soviet Union echoes previous moments of social and political transformation, history offers a special vantage point from which to judge the current course of events. In this book, a mix of leading historians and political scientists examines the foreign policy of contemporary Russia over four centuries of history. The authors explain the impact of empire and its loss, the interweaving of domestic and foreign impulses, long-standing approaches to national security, and the effect of globalization over time. Contributors focus on the underlying patterns that have marked Russian foreign policy and that persist today. These patterns are driven by the country's political makeup, geographical circumstances, economic strivings, unsettled position in the larger international setting, and, above all, its tortured effort to resolve issues of national identity. The argument here is not that the Russia of Putin and his successors must remain trapped by these historical patterns but that history allows for an assessment of how much or how little has changed in Russia's approach to the outside world and creates a foundation for identifying what must change if Russia is to evolve. A truly unique collection, this volume utilizes history to shed crucial light on Russia's complex, occasionally inscrutable relationship with the world. In so doing, it raises the broader issue of the relationship of history to the study of contemporary foreign policy and how these two enterprises might be better joined.

Russia After the Global Economic Crisis examines this important country after the financial crisis of 2007–09. The second book from The Russia Balance Sheet Project, a collaboration of two of the world's preeminent research institutions, the Peterson Institute for International Economics and the Center for Strategic and International Studies (CSIS), not only assesses Russia's international and domestic policy challenges but also provides an all-encompassing review of this important country's foreign and domestic issues. The authors consider foreign policy, Russia and its neighbors, climate change, Russia's role in the world, domestic politics, and corruption.