A new history shows that, despite MarxismÕs rejection of money, the ruble was critical to the Soviet UnionÕs promise of shared prosperity for its citizens. In spite of Karl MarxÕs proclamation that money would become obsolete under Communism, the ruble remained a key feature of Soviet life. In fact, although Western economists typically concluded that money ultimately played a limited role in the Soviet Union, Kristy Ironside argues that money was both more important and more powerful than most histories have recognized. After the Second World War, money was resurrected as an essential tool of Soviet governance. Certainly, its importance was not lost on Soviet leaders, despite official Communist Party dogma. Money, Ironside demonstrates, mediated the relationship between the Soviet state and its citizens and was at the center of both the governmentÕs and the peopleÕs visions for the maturing Communist project. A strong rubleÑone that held real value in workersÕ hands and served as an effective labor incentiveÑwas seen as essential to the economic growth that would rebuild society and realize CommunismÕs promised future of abundance. Ironside shows how Soviet citizens turned to the state to remedy the damage that the ravages of the Second World War had inflicted upon their household economies. From the late 1940s through the early 1960s, progress toward Communism was increasingly measured by the health of its citizensÕ personal finances, such as greater purchasing power, higher wages, better pensions, and growing savings. However, the increasing importance of money in Soviet life did not necessarily correlate to improved living standards for Soviet citizens. The Soviet governmentÕs achievements in Òraising the peopleÕs material welfareÓ continued to lag behind the WestÕs advances during a period of unprecedented affluence. These factors combined to undermine popular support for Soviet power and confidence in the Communist project.

"The Ruble is a political history of Russian money from Catherine the Great to Vladimir Lenin. It traces the evolution of the Russian state and society through the analysis of monetary reforms. The Ruble argues that currency constituted an important element of Russian political organization - first, autocratic, and then socialist, while monetary reforms were considered as the means of enabling or preventing political transformations. The Ruble shows how politics affected finance and explains why Russia's financial system remained unstable for many decades. Russian imperial government considered certain financial models, such as the independence of the bank of issue, to be incompatible with the principles of autocratic monarchy. The ruble represented a projection of monarchal power and a tool of imperial expansion. Russian government used emission to finance imperial wars and prioritized geopolitical successes over economic development. Russia was the last European empire to join the gold standard system, and the gold ruble differed from other gold-based currencies of the world. The Ruble analyzes the phenomena of the "autocratic" and "Soviet" gold standards and argues that the gold-based ruble differed from other currencies of the gold-standard system. Despite the preponderance of the conservative trend in monetary policy, Russian economists, liberal politicians and intellectuals argued for a radical reform of Russian money and wanted to liberate the ruble from the tutelage of the state. From Catherine the Great's reform until the 1920s, the ruble remained an object of many political programs, utopian projects, and economic ideologies"--

Russia’s use of its vast energy resources for leverage against post-Soviet states such as Ukraine is widely recognized as a threat. Yet we cannot understand this danger without also understanding the opportunity that Russian energy represents. From corruption-related profits to transportation-fee income to subsidized prices, many within these states have benefited by participating in Russian energy exports. To understand Russian energy power in the region, it is necessary to look at the entire value chain—including production, processing, transportation, and marketing—and at the full spectrum of domestic and external actors involved, from Gazprom to regional oligarchs to European Union regulators. This book follows Russia’s three largest fossil-fuel exports—natural gas, oil, and coal—from production in Siberia through transportation via Ukraine to final use in Germany in order to understand the tension between energy as threat and as opportunity. Margarita M. Balmaceda reveals how this dynamic has been a key driver of political development in post-Soviet states in the period between independence in 1991 and Russia’s annexation of Crimea in 2014. She analyzes how the physical characteristics of different types of energy, by shaping how they can be transported, distributed, and even stolen, affect how each is used—not only technically but also politically. Both a geopolitical travelogue of the journey of three fossil fuels across continents and an incisive analysis of technology’s role in fossil-fuel politics and economics, this book offers new ways of thinking about energy in Eurasia and beyond.

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.

A James Beard Award-winning writer captures life under the Red socialist banner in this wildly inventive, tragicomic memoir of feasts, famines, and three generations “Delicious . . . A banquet of anecdote that brings history to life with intimacy, candor, and glorious color.”—NPR’s All Things Considered Born in 1963, in an era of bread shortages, Anya grew up in a communal Moscow apartment where eighteen families shared one kitchen. She sang odes to Lenin, black-marketeered Juicy Fruit gum at school, watched her father brew moonshine, and, like most Soviet citizens, longed for a taste of the mythical West. It was a life by turns absurd, naively joyous, and melancholy—and ultimately intolerable to her anti-Soviet mother, Larisa. When Anya was ten, she and Larisa fled the political repression of Brezhnev-era Russia, arriving in Philadelphia with no winter coats and no right of return. Now Anya occupies two parallel food universes: one where she writes about four-star restaurants, the other where a taste of humble kolbasa transports her back to her scarlet-blazed socialist past. To bring that past to life, Anya and her mother decide to eat and cook their way through every decade of the Soviet experience. Through these meals, and through the tales of three generations of her family, Anya tells the intimate yet epic story of life in the USSR. Wildly inventive and slyly witty, Mastering the Art of Soviet Cooking is that rare book that stirs our souls and our senses. ONE OF THE BEST BOOKS OF THE YEAR: The Christian Science Monitor, Publishers Weekly

A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.

Debates on Stalinism introduces major debates about Stalinism during and after the Cold War. Did 'Stalinism' form a system in its own right or was it a mere stage in the overall development of Soviet society? Was it an aberration from Leninism or the logical conclusion of Marxism? Was its violence the revenge of the Russian past or the result of a revolutionary mindset? Was Stalinism the work of a madman or the product of social forces beyond his control? The book shows the complexities of historiographical debates, where evidence, politics, personality, and biography are strongly entangled. Debates on Stalinism allows readers to better understand not only the history of history writing, but also contemporary controversies and conflicts in the successor states of the Soviet Union, in particular Russia and Ukraine.