Fedor Chizhov built the first railroad owned entirely by Russian stockholders, created Moscow’s first bank and mutual credit society, and launched the first profitable steamship line based in Archangel. In this valuable book, Thomas Owen vividly illuminates the life and world of this seminal figure in early Russian capitalism. Chizhov condemned European capitalism as detrimental to the ideal of community and the well-being of workers and peasants. In his strategy of economic nationalism, Chizhov sought to motivate merchants to undertake new forms of corporate enterprise without undermining ethnic Russian culture. He faced numerous obstacles, from the lack of domestic investment capital to the shortage of enlightened entrepreneurial talent. But he reserved his harshest criticism for the tsarist ministers, whose incompetence and prejudice against private entrepreneurship proved his greatest hindrance. Richly documented from Chizhov’s detailed diary, this work offers an insightful exploration of the institutional impediments to capitalism and the rule of law that plagued the tsarist empire and continue to bedevil post-Soviet Russia.

Fedor Chizhov built the first railroad owned entirely by Russian stockholders, created Moscow's first bank and mutual credit society, and launched the first profitable steamship line based in Archangel. In this valuable book, Thomas Owen vividly illuminates the life and world of this seminal figure in early Russian capitalism. Chizhov condemned European capitalism as detrimental to the ideal of community and the well-being of workers and peasants. In his strategy of economic nationalism, Chizhov sought to motivate merchants to undertake new forms of corporate enterprise without undermining ethnic Russian culture. He faced numerous obstacles, from the lack of domestic investment capital to the shortage of enlightened entrepreneurial talent. But he reserved his harshest criticism for the tsarist ministers, whose incompetence and prejudice against private entrepreneurship proved his greatest hindrance. Richly documented from Chizhov's detailed diary, this work offers an insightful exploration of the institutional impediments to capitalism and the rule of law that plagued the tsarist empire and continue to bedevil post-Soviet Russia.

Fedor Chizhov built the first railroad owned entirely by Russian stockholders, created Moscow’s first bank and mutual credit society, and launched the first profitable steamship line based in Archangel. In this valuable book, Thomas Owen vividly illuminates the life and world of this seminal figure in early Russian capitalism. Chizhov condemned European capitalism as detrimental to the ideal of community and the well-being of workers and peasants. In his strategy of economic nationalism, Chizhov sought to motivate merchants to undertake new forms of corporate enterprise without undermining ethnic Russian culture. He faced numerous obstacles, from the lack of domestic investment capital to the shortage of enlightened entrepreneurial talent. But he reserved his harshest criticism for the tsarist ministers, whose incompetence and prejudice against private entrepreneurship proved his greatest hindrance. Richly documented from Chizhov’s detailed diary, this work offers an insightful exploration of the institutional impediments to capitalism and the rule of law that plagued the tsarist empire and continue to bedevil post-Soviet Russia.

The first book to describe Russia's massive economic transformation for an American audience, Kremlin Capitalism provides a wealth of data and analyses not previously available in this country. The authors articulate the political and economic goals of Russian privatization, examine the current ownership of the largest enterprises in Russia, and chart the serious problem of corporate governance in the new private businesses. Kremlin Capitalism is based on the only continuous study of Russian privatization throughout the Russian Federation from 1992 to the present. The authors tracked down the story of the transition in the cities, towns, and villages of fifty of Russia's eighty-nine provinces, updating their findings after the June 1996 election. The result is an up-to-the-minute report of the largest property transfer in history and an analysis of one of this century's most significant economic transformations. The volume also characterizes the position of workers in terms of unemployment, wages, union power, and their changing role as employee shareholders.What really happened when Russia privatized its economy? The Kremlin brokered the initial struggle among different interest groups eager to claim a portion of Russian property: workers, managers, the Mafia, the old Soviet bureaucracy, regular citizens, entrepreneurs, Russian banks, and foreigners. While competing with one another, all struggled to free themselves from seventy years of Communist economic culture. Four years after the process began, have large companies learned to offer goods and services profitably and pay dividends to shareholders? Individual stories come alive as the book explores problems Russians face in structuring a new economic system, defining the ownership and governance of thousands of corporations one by one. Russian economic practices are being forged in the heat of fierce political struggles between resurgent Communists and nationalists and old Soviet managers, on the one hand, and more liberal elements of its infant democratic system on the other. Whether a few big conglomerates and the powerful banks and holding companies from Soviet days will dominate the new Russian economy to the exclusion of most citizens remains to be seen.Many questions persist. How will billions of dollars of capital be raised to retool, restructure, and reorient the heart and soul of Russia's economy? Will open stock markets stimulate a new economic order or will that new order be imposed through strong state supports and subsidies? What role will be played by shadowy conglomerates that are trying to shape a disorganized economy into something resembling the old Soviet system? The authors note the paradox of a capitalism conceived, designed, implemented, and evaluated by the Kremlin when one aim of reform is to allow market forces to play freely. Kremlin Capitalism asks whether rapid privatization has catalyzed or complicated the transition to a more liberal political and economic system, a question that will reverberate for decades.

This timely book explores Russia’s political development since the collapse of the USSR and how inextricably it has been bound up with economic change. Tracing the evolution of Russia’s political economy, leading scholars consider how it may continue to develop going forward. They assess the historical legacies of the Soviet period, showing how—despite policies implemented after the USSR dissolved in 1991—there are ongoing bitter battles over property and state revenues, over land, and over welfare. The book puts these domestic issues in international and comparative perspective by considering Russia’s position in the global economy and its growing role as a major energy producer. Focusing especially on the nature and future of Russian capitalism, the contributors weigh the political problems that confront Russia in its ongoing struggle to modernize and develop its economy. Contributions by: Andrew Barnes, Paul T. Christensen, Linda J. Cook, Gerald M. Easter, Neil Robinson, Richard Sakwa, and Stephen K. Wegren.

In Putin's Labor Dilemma, Stephen Crowley investigates how the fear of labor protest has inhibited substantial economic transformation in Russia. Putin boasts he has the backing of workers in the country's industrial heartland, but as economic growth slows in Russia, reviving the economy will require restructuring the country's industrial landscape. At the same time, doing so threatens to generate protest and instability from a key regime constituency. However, continuing to prop up Russia's Soviet-era workplaces, writes Crowley, could lead to declining wages and economic stagnation, threatening protest and instability. Crowley explores the dynamics of a Russian labor market that generally avoids mass unemployment, the potentially explosive role of Russia's monotowns, conflicts generated by massive downsizing in "Russia's Detroit" (Tol'yatti), and the rapid politicization of the truck drivers movement. Labor protests currently show little sign of threatening Putin's hold on power, but the manner in which they are being conducted point to substantial chronic problems that will be difficult to resolve. Putin's Labor Dilemma demonstrates that the Russian economy must either find new sources of economic growth or face stagnation. Either scenario—market reforms or economic stagnation—raises the possibility, even probability, of destabilizing social unrest.