this post was submitted on 28 Feb 2025
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[–] wildbus8979@sh.itjust.works 2 points 2 days ago

Here's the kicker, Russia as it stands today, is an all American creation.

https://en.wikipedia.org/wiki/Shock_therapy_%28economics%29

In post-Soviet Russia and other post-Communist states, neoliberal reforms based on the Washington Consensus resulted in a surge in excess mortality and decreasing life expectancy, along with rising economic inequality, corruption, and poverty. Isabella Weber of the University of Massachusetts said: "As a result of shock therapy, Russia experienced a rise in mortality beyond that of any previous peacetime experiences of an industrialized country.": 2  The Gini ratio increased by an average of 9 points for all post-Communist states. The average post-Communist state had returned to 1989 levels of per-capita GDP by 2005, although some are still far behind that. In Russia, the average real income for 99 percent of people was lower in 2015 than in 1991.: 2  According to William Easterly, successful market economies rest on a framework of law, regulation, and established practice, which cannot be instantaneously created in a society that was formerly authoritarian, heavily centralised, and subject to state ownership of assets.