Igor Shesterkin, the Rangers’ backbone, came to play. I don’t know if any of us are going to be on a team this good (again). You look around this room - stacked, top to bottom. He sketches a “hierarchy of Putinomics”: “first, political control second, social stability third, efficiency and profit.” The first two objectives are within reach, but the system’s inability to properly fund the country’s health-care and educational systems, fight corruption, or establish the rule of law threatens to sacrifice the third.“I know we can play better,” K’Andre Miller told The Athletic in the postgame room. Russia, Miller argues, has a dual economy: one portion dominated by corrupt and inefficient state-owned enterprises, the other driven by a widening range of efficient and innovative private companies. Putin and his loyalists certainly are corrupt, but he and the liberal technocratic economic team on which he relies have also skillfully managed Russia’s economic fortunes.Īs Miller recounts in this short and admirably clear book, Putin took over a debt-ridden, revenue-starved economy in 1999 and then forced the oligarchs to pay taxes, saved the windfall from soaring oil profits (and later used it to weather successive financial crises), paid off Russia’s debts, tamed inflation, and presided over rapid growth (fueled not only by oil profits but also by increased productivity). Miller challenges the popular notion that Russian President Vladimir Putin’s entire talent lies in using corruption to sustain a kleptocratic authoritarian regime. Even in the face of Western financial sanctions and low oil prices, Putin has never been more relevant on the world stage. Miller argues that despite Russia's corruption, cronyism, and overdependence on oil as an economic driver, Putin's economic strategy has been surprisingly successful.Įxplaining the economic policies that underwrote Putin's two-decades-long rule, Miller shows how, at every juncture, Putinomics has served Putin's needs by guaranteeing economic stability and supporting his accumulation of power. In this new analysis of Putin's Russia, Chris Miller examines its economic policy and the tools Russia's elite have used to achieve its goals. What principles have guided Putin's economic policies?
In the years since, he has reestablished Russia as a great power. When Vladimir Putin first took power in 1999, he was a little-known figure ruling a country that was reeling from a decade and a half of crisis.
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