Russia’s Neo-Feudal Capitalism
Vladimir Putin's model of crony capitalism seems to be a deliberate effort to emulate the success of Russia’s old feudal system – a system that, after all, lasted for centuries. But in today’s world, such a system not only seems outdated; it also poses a genuine threat to social and political stability.
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WASHINGTON, DC – Vladimir Putin’s Russia is looking more and more like the sclerotic and stagnant Soviet Union of the Leonid Brezhnev era. But in one area, Putin’s regime remains an innovator: corruption. Indeed, in this, the 18th year of Putin’s rule, a new form of crony capitalism has been taking hold.