Because of the flawed manner in which the privatization process was carried out, the new owners will always lack the legitimacy necessary for a stable political climate and sustained economic investment and growth. Having constructed a faulty foundation, the builders must live with the possibility that their edifice of privatization will periodically shift and crack and may even collapse.
Render Unto Caesar: Putin and the Oligarchs
Marshall I. Goldman, a Current History contributing editor, is associate director of the Davis Center for Russian and Eurasian Studies at Harvard University and author of The Piratization of Russia: Russian Reform Goes Awry (Routledge, 2003).
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Marshall I. Goldman; Render Unto Caesar: Putin and the Oligarchs. Current History 1 October 2003; 102 (666): 320–326. doi: https://doi.org/10.1525/curh.2003.102.666.320
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