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In the late 1990s, as Russia’s economy descended into a death spiral—eventually culminating in the August 1998 crash of the ruble and the government’s default on its international loan commitments—a series of books and articles appeared asking, “Who Lost Russia?”
The assertion that Russia has discovered a new kind of capitalism— “market authoritarianism”—is a myth. Putin and company have no idea how to sustain real growth. By Michael McFaul and Kathryn Stoner-Weiss.
