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In 1921 Lenin surprised foreign observers and many in his own Party, by calling for the legalization of private trade and manufacturing. Within a matter of months, this New Economic Policy (NEP) spawned many thousands of private entrepreneurs, dubbed Nepmen. After delineating this political background, Alan Ball turns his attention to the Nepmen themselves, examining where they came from, how they fared in competition with the socialist sector of the economy, their importance in the Soviet economy, and the consequences of their "liquidation" at the end of the 1920s. Alan Ball's history of this experiment with capitalism is strikingly relevant to current efforts toward economic reform in the USSR.
Why did the 1917 American Red Cross Mission to Russia include more financiers than medical doctors? Rather than caring for the victims of war and revolution, its members seemed more intent on negotiating contracts with the Kerensky government, and subsequently the Bolshevik regime. In a courageous investigation, Antony Sutton establishes tangible historical links between US capitalists and Russian communists. Drawing on State Department files, personal papers of key Wall Street figures, biographies and conventional histories, Sutton reveals: The role of Morgan banking executives in funnelling illegal Bolshevik gold into the US; the co-option of the American Red Cross by powerful Wall Street forces; the intervention by Wall Street sources to free the Marxist revolutionary Leon Trotsky, whose aim was to topple the Russian government; the deals made by major corporations to capture the huge Russian market a decade and a half before the US recognized the Soviet regime; the secret sponsoring of Communism by leading businessmen, who publicly championed free enterprise. Wall Street and the Bolshevik Revolution traces the foundations of Western funding of the Soviet Union. Dispassionately, and with overwhelming documentation, the author details a crucial phase in the establishment of Communist Russia. This classic study - first published in 1974 and part of a key trilogy - is reproduced here in its original form. (The other volumes in the series include Wall Street and the Rise of Hitler and a study of Franklin D. Roosevelt’s 1933 Presidential election in the United States.)
A penetrating look into the extreme plutocracy Vladimir Putin has created and its implications for Russia’s future This insightful study explores how the economic system Vladimir Putin has developed in Russia works to consolidate control over the country. By appointing his close associates as heads of state enterprises and by giving control of the FSB and the judiciary to his friends from the KGB, he has enriched his business friends from Saint Petersburg with preferential government deals. Thus, Putin has created a super wealthy and loyal plutocracy that owes its existence to authoritarianism. Much of this wealth has been hidden in offshore havens in the United States and the United Kingdom, where companies with anonymous owners and black money transfers are allowed to thrive. Though beneficial to a select few, this system has left Russia’s economy in untenable stagnation, which Putin has tried to mask through military might.
In this saga of brilliant triumphs and magnificent failures, David E. Hoffman, the former Moscow bureau chief for the Washington Post, sheds light on the hidden lives of Russia's most feared power brokers: the oligarchs. Focusing on six of these ruthless men— Alexander Smolensky, Yuri Luzhkov, Anatoly Chubais, Mikhail Khodorkovsky, Boris Berezovsky, and Vladimir Gusinsky—Hoffman shows how a rapacious, unruly capitalism was born out of the ashes of Soviet communism.
Russia’s Capitalist Realism examines how the literary tradition that produced the great works of Leo Tolstoy, Fyodor Dostoevsky, and Anton Chekhov responded to the dangers and possibilities posed by Russia’s industrial revolution. During Russia’s first tumultuous transition to capitalism, social problems became issues of literary form for writers trying to make sense of economic change. The new environments created by industry, such as giant factories and mills, demanded some kind of response from writers but defied all existing forms of language. This book recovers the rich and lively public discourse of this volatile historical period, which Tolstoy, Dostoevsky, and Chekhov transformed into some of the world’s greatest works of literature. Russia’s Capitalist Realism will appeal to readers interested in nineteenth‐century Russian literature and history, the relationship between capitalism and literary form, and theories of the novel.
Reveals the nature of Russian capitalism following the fall of the Soviet Union, showing the impact of both Soviet bureaucracy and global capital.
An authoritative history of Russia from early Rus' to the reign of Peter the Great.
WINNER OF THE ORWELL PRIZE WINNER OF THE CORNELIUS RYAN AWARD FINALIST FOR THE LIONEL GELBER PRIZE FINANCIAL TIMES BOOK OF THE YEAR “Fast-paced and excellently written…much needed, dispassionate and eminently readable.” —New York Times “Filled with sparkling prose and deep analysis.” –The Wall Street Journal The breakup of the Soviet Union was a time of optimism around the world, but Russia today is actively involved in subversive information warfare, manipulating the media to destabilize its enemies. How did a country that embraced freedom and market reform 25 years ago end up as an autocratic police state bent once again on confrontation with America? A winner of the Orwell Prize, The Invention of Russia reaches back to the darkest days of the cold war to tell the story of Russia's stealthy and largely unchronicled counter revolution. A highly regarded Moscow correspondent for the Economist, Arkady Ostrovsky comes to this story both as a participant and a foreign correspondent. His knowledge of many of the key players allows him to explain the phenomenon of Valdimir Putin - his rise and astonishing longevity, his use of hybrid warfare and the alarming crescendo of his military interventions. One of Putin's first acts was to reverse Gorbachev's decision to end media censorship and Ostrovsky argues that the Russian media has done more to shape the fate of the country than its politicians. Putin pioneered a new form of demagogic populism --oblivious to facts and aggressively nationalistic - that has now been embraced by Donald Trump.
A must-read financial history for investors navigating today's volatile global markets Following an unprecedented economic boom fed by foreign investment, the Russian Revolution triggered the largest sovereign default in history. In Bankers and Bolsheviks, Hassan Malik tells the story of this boom and bust, chronicling the experiences of leading financiers of the day as they navigated one of the most lucrative yet challenging markets of the first modern age of globalization. He reveals how a complex web of factors—from government interventions to competitive dynamics and cultural influences—drove a large inflow of capital during this tumultuous period. This gripping book demonstrates how the realms of finance and politics—of bankers and Bolsheviks—grew increasingly intertwined, and how investing in Russia became a political act with unforeseen repercussions.
In 1989 the Berlin Wall came down. Two years later the Soviet Union disintegrated. The collapse of communism in Eastern Europe and the Soviet Union discredited the idea of socialism for generations to come. It was seen as representing the final and irreversible victory of capitalism. This triumphal dominance was barely challenged until the 2008 financial crisis threw the Western world into a state of turmoil. Through analysis of post-socialist Russia and Central and Eastern Europe, as well as of the United Kingdom, China and the United States, Socialism, Capitalism and Alternatives confronts the difficulty we face in articulating alternatives to capitalism, socialism and threatening populist regimes. Beginning with accounts of the impact of capitalism on countries left behind by the planned economies, the volume moves on to consider how China has become a beacon of dynamic economic growth, aggressively expanding its global influence. The final section of the volume poses alternatives to the ideological dominance of neoliberalism in the West. Since the 2008 financial crisis, demands for social change have erupted across the world. Exposing the failure of neoliberalism in the United Kingdom and examining recent social movements in Europe and the United States, the closing chapters identify how elements of past ideas are re-emerging, among them Keynesianism and radical socialism. As those chapters indicate, these ideas might well have potential to mobilise support and challenge the dominance of neoliberalism.