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Russia to Get Oil Railways
The Russian Federation’s development of a free market, capitalist economy since the unexpected collapse of the Soviet Union in December 1991 can most charitably be described as ‘fitful.” While large portions of the formerly socialist economy have been privatized, large elements of what Soviet economists called “the commanding heights of the economy” have remained in state hands. Even the kleoptoractic administration of Russia’s first President, Boris Yelstin, hesitated to privatize, a process which has proceeded…Read more...
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