The Conundrum of Russian Capitalism : The Post-Soviet Economy in the World System

The Conundrum of Russian Capitalism looks at the nature of Russian capitalism following the fall of the Soviet Union, showing how the system originated in the degenerated Soviet bureaucracy and the pressures of global capital. Ruslan Dzarasov provides a detailed analysis of Russian corporate governance, labour practices and investment strategies. By comparing the practices of Russian companies to the typical models of corporate governance and investment behaviour of big firms in the West, Dzarasov sheds light on the relationship between the core and periphery of the capitalist world-system. This groundbreaking study shows that Russia's new capitalism is not a break with the country's Stalinist past, but in fact the continuation of that tradition. The fall of the Soviet Union and the emergence of contemporary Russian capitalism are often all too often read as a juncture with the past. In reality, Russia's current capitalist system originated in the degenerated Soviet bureaucracy, alongside the pressures of global capital.

From Roman Abramovich to Leonid Mikhelson, the reign of the CEO in Russia corporations mirrors the autocracy of the Soviet Union's leaders: the Russian tradition of the Cult of Personality lives on. The conception of the massive corporations, and the autocrats that lead them, occurred towards the end of the Soviet Union, when the would-be owners seized corporate assets and, taking advantage of Gorbachev's reforms, transformed publicly owned industry into private enterprises with themselves at the helm. By comparing the practices of Russian corporate governance, labour practices and investment strategies to the typical models of corporate governance and investment behaviour of big firms in the West, Ruslan Dzarasov exposes the parallels between the core and the periphery of the capitalist world-system.

Drawing on the theory of Leon Trotsky, as well as Immanuel Wallerstein and Robert Brenner, this study disrupts many of the myths about Russia's political economy.
'the Conundrum Of Russian Capitalism' Looks At The Nature Of Russian Capitalism Following The Fall Of The Soviet Union, Showing How The System Originated In The Degenerated Soviet Bureaucracy Under The Ppessures Of Global Capital. Ruslan Dzarasov Provides A Detailed Analysis Of Russian Corporate Governance, Labout Practices And Investment Strategies. By Comparing The Practices Of Russian Companies To The Typical Models Of Corporate Governance And Investment Behaviour Of Big Firms In The West, Dzarasov Sheds Light On The Relationship Between The Core And Periphery Of The Capitalist World-system. This Groundbreaking Study Shows That Russia's New Capitalism Is Not A Break With The Country's Stalinist Past, But In Fact The Continuation Of That Tradition. Global Accumulation And The Capitalist World-system -- From Central Planning To Capitalism -- Russian Big Business: Corporate Governance And The Time Horizon -- Rent Withdrawal, Social Conflict And Accumulation -- Insider Rent And Conditions Of Growth In The Russian Economy -- The Accumulation Of Capital By Russian Corporations: Some Empirical Evidence. Ruslan Dzarasov. Includes Bibliographical References (p. 269-287) And Index. The Conundrum of Russian Capitalism looks at the nature of Russian capitalism following the fall of the Soviet Union, showing how the system originated in the degenerated Soviet bureaucracy under the pressures of global capital. Ruslan Dzarasov provides a detailed analysis of Russian corporate governance, labour practices, and investment strategies. By comparing the practices of Russian companies to the typical models of corporate governance and investment behaviour of big firms in the West, Dzarasov sheds light on the relationship between the core and periphery of the capitalist world-system. This groundbreaking study shows that Russia's new capitalism is not a break with the country's Stalinist past, but in fact the continuation of that tradition. Book jacket Cover 1 Contents 6 List of Figures 7 List of Tables 9 Acknowledgements 10 Introduction 12 1. Global Accumulation and the Capitalist World-sytem 26 2. From Central Planning to Capitalism 53 3. Russian Big Business: Corporate Governance and the Time Horizon 91 4. Rent Withdrawal, Social Conflict and Accumulation 144 5. Insider Rent and Conditions of Growth in the Russian Economy 186 6. The Accumulation of Capital by Russian Corporations: Some Empirical Evidence 207 Conclusion 266 Notes 272 Bibliography 280 Index 301 Introduction 1. Global accumulation and the capitalist world-system 2. From central planning to Capitalism 3. Russian Big Business: Corporate Governance and Time Horizon 4. Rent Withdrawal, Social Conflict and Accumulation 5. Insider Rent and Conditions of Growth in the Russian Economy 6. Accumulation of capital by Russian corporations: some empirical evidence Conclusion References Index Reveals the nature of Russian capitalism following the fall of the Soviet Union, showing the impact of both Soviet bureaucracy and global capital.