Development of Capitalism in Russia

Simon Clarke – a well-known authority in this area:

surveys the old Soviet system

charts the progress through the early post-Soviet period, when neo-liberal theorists’ ‘shock therapy’ did not lead to the immediate development of a capitalist market economy, and traditional enterprises became hugely loss-making

considers the crisis of 1998, and its effects, which included the curtailment of speculation, and growing investment in the old industrial sector, which in turn put the new small and medium sized enterprises under increasing pressure

discusses the wider theoretical implications of the Russian experience for other transitional economies.