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This is the first book to specify the type of economic system that has arisen in Central Asia, replacing the simplistic ideas of 'petro-state' or 'resource dependent.'The book presents three types of state capitalism now established in the former Soviet Union states of Eurasia — crony, dual-sector, and predatory capitalism. It provides first-hand research based on extensive interviewing in the native languages in five of the six. From the political economic perspective, it surveys the source of resources for these authoritarian regimes, their decision-making, and the disposition of government funds, including corruption.
Understanding the rise of state capitalism and its threat to global free markets The End of the Free Market details the growing phenomenon of state capitalism, a system in which governments drive local economies through ownership of market-dominant companies and large pools of excess capital, using them for political gain. This trend threatens America's competitive edge and the conduct of free markets everywhere. An expert on the intersection of economics and politics, Ian Bremmer has followed the rise of state-owned firms in China, Russia, the Arab states of the Persian Gulf, Iran, Venezuela, and elsewhere. He demonstrates the growing challenge that state capitalism will pose for the entire global economy. Among the questions addressed: Are we on the brink of a new kind of Cold War, one that pits competing economic systems in a battle for dominance? Can free market countries compete with state capitalist powerhouses over relations with countries that have elements of both systems-like India, Brazil, and Mexico? Does state capitalism have staying power? This guide to the next big global economic trend includes useful insights for investors, business leaders, policymakers, and anyone who wants to understand important emerging changes in international politics and the global economy.
The end of the Cold War ushered in an age of American triumphalism best characterized by the "Washington Consensus:" the idea that free markets, democratic institutions, limitations on government involvement in the economy, and the rule of law were the foundations of prosperity and stability. The last fifteen years, starting with the Asian financial crisis, have seen the gradual erosion of that consensus. Many commentators have pointed to the emergence of a powerful new rival model: state capitalism. In state capitalist regimes, the government typically owns firms in strategic industries. Not beholden to private-sector shareholders, such firms are allowed to operate with razor-thin margins if the state deems them strategically important. China, soon to be the world's largest economy, is the best known state capitalist regime, but it is hardly the only one. In State Capitalism, Joshua Kurlantzick ranges across the world--China, Thailand, Brazil, Russia, South Africa, Turkey, and more--and argues that the increase in state capitalism across the globe has, on balance, contributed to a decline in democracy. He isolates some of the reasons for state capitalism's resurgence: the fact that globalization favors economies of scale in the most critical industries, and the widespread rejection of the Washington Consensus in the face of the problems that have plagued the world economy in recent years. That said, a number of democratic nations have embraced state capitalism, and in those regimes, state-backed firms like Brazil's Embraer have enjoyed considerable success. Kurlantzick highlights the mixed record and the evolving nature of the model, yet he is more concerned about the negative effects of state capitalism. When states control firms, whether in democratic or authoritarian regimes, the government increases its advantage over the rest of society. The combination of new technologies, the perceived failures of liberal economics and democracy in many developing nations, the rise of modern kinds of authoritarians, and the success of some of the best-known state capitalists have created an era ripe for state intervention. State Capitalism offers the sharpest analysis yet of what state capitalism's emergence means for democratic politics around the world.
Political legitimacy has become a scarce resource in Russia and other post-Soviet states. Their capacity to deliver prosperity has suffered from economic crisis, war in Ukraine and confrontation with the West. Will nationalism and repression enable political regimes to survive? This book studies the politics of legitimation in Post-Soviet Eurasia.
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.
Labor regimes under communism in East-Central Europe were complex, shifting, and ambiguous. This collection of sixteen essays offers new conceptual and empirical ways to understand their history from the end of World War II to 1989, and to think about how their experiences relate to debates about labor history, both European and global. The authors reconsider the history of state socialism by re-examining the policies and problems of communist regimes and recovering the voices of the workers who built them. The contributors look at work and workers in Albania, Bulgaria, Czechoslovakia, the German Democratic Republic, Hungary, Poland, Romania, and Yugoslavia. They explore the often contentious relationship between politics and labor policy, dealing with diverse topics including workers’ safety and risks; labor rights and protests; working women’s politics and professions; migrant workers and social welfare; attempts to control workers’ behavior and stem unemployment; and cases of incomplete, compromised, or even abandoned processes of proletarianization. Workers are presented as active agents in resisting and supporting changes in labor policies, in choosing allegiances, and in defining the very nature of work.
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.
One of the world's leading experts on power offers a penetrating look at the rise of private interests and how the struggle among competing capitalism is reordering the global economy.
The Eurasianist movement was launched in the 1920s by a group of young Russian émigrés who had recently emerged from years of fighting and destruction. Drawing on the cultural fermentation of Russian modernism in the arts and literature, as well as in politics and scholarship, the movement sought to reimagine the former imperial space in the wake of Europe's Great War. The Eurasianists argued that as an heir to the nomadic empires of the steppes, Russia should follow a non-European path of development. In the context of rising Nazi and Soviet powers, the Eurasianists rejected liberal democracy and sought alternatives to Communism and capitalism. Deeply connected to the Russian cultural and scholarly milieus, Eurasianism played a role in the articulation of the structuralist paradigm in interwar Europe. However, the movement was not as homogenous as its name may suggest. Its founders disagreed on a range of issues and argued bitterly about what weight should be accorded to one or another idea in their overall conception of Eurasia. In this first English language history of the Eurasianist movement based on extensive archival research, Sergey Glebov offers a historically grounded critique of the concept of Eurasia by interrogating the context in which it was first used to describe the former Russian Empire. This definitive study will appeal to students and scholars of Russian and European history and culture.