The Post-Soviet Russian economic system : An industrial feudalism?

Abstract

In fifteen years, Russia has changed thoroughly.But what actually is the outcome so far of Russia s change?In this paper the leading US expert on the Russian economy argues that far from being a well-defined market economy, Russia is best characterised as an industrial feudalism with many peculiarities absent from the rest of the (non-post-Soviet) modern world.The author further argues that it can take a very long time before the proper institutions are place so that a modern market economy could develop.