Cover image for Kapitalizm : Russia's struggle to free its economy
Kapitalizm : Russia's struggle to free its economy
Brady, Rose, 1956-
Personal Author:
Publication Information:
New Haven : Yale University Press, [1999]

Physical Description:
xxvii, 289 pages, 16 unnumbered pages of plates : illustrations ; 22 cm
Format :


Call Number
Material Type
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Item Holds
HC340.12 .B7 1999 Adult Non-Fiction Central Closed Stacks

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An account of Russia's transition period from a socialist state to a market economy. Brady interviewed major political and economic figures, and takes readers into the factories, stores, banks, homes and schools of Russia, to explain how the country's own brand of capitalism has evolved.

Reviews 3

Booklist Review

Brady was the Moscow bureau chief for Business Week from 1989 to 1993, and she saw firsthand the wrenching changes wrought by attempts to privatize Russia's economy. She sets out here to portray the effects of those changes. She interviews ordinary citizens and major political and economic figures to piece together a mosaic of Russian life today. She describes the first jolt created by the removal of price controls, the mad scramble for businesses that had been state run, and the destitution of those left in the wake. Brady also chronicles Yeltsin's attempts to retain control, portrays the rise of a new middle class, explains Russia's unique brand of entrepreneurism, and documents the threat posed by the country's growing crime wave. Given the extreme volatility of the Russian economy, Brady presented herself with an especially daunting task. She had to return to Russia last September to gather material for a postscript that took into account Russia's most recent economic free fall. Included is a useful month-by-month chronology of events from 1991 to 1997. --David Rouse

Publisher's Weekly Review

Brady's vibrant account of the first six years of Russia's post-Communist economic reform explains how a once closed economy became so precariously dependent on the global markets. As Business Week's Moscow bureau chief from 1989 to 1993, Brady collected interviews from government officials Yegor Gaidar, Anatoly Chubais and Boris Nemtsov. She leaves chronology and statistics for the appendixes (which include charts listing wages, inflation, poverty level, household income) and allows anecdotes, photos and quotes to paint a picture of the socioeconomic metamorphosis of the country. Bankers and tycoons such as Oleg Boiko, Vladimir Gusinsky and Boris Berezovsky, the so-called oligarchs who have asserted their power since Yeltsin's reelection (for which they were arguably responsible), figure prominently, and Brady delicately probes the role of Western financial advisers and their reincarnation into overly bullish investors. Pensioners and the poor, too, speak out: one widowed pensioner laments, "We were just beginning to live when it was Brezhnev's time." The book ends in early 1997, when Russia's future still looked relatively rosy‘before the August 1998 financial crisis catapulted the country back into economic chaos. But Brady addresses these recent changes in a postscript. For the most part, she believes that Russia has no choice but to stumble on toward economic liberalization. However, in speculating about Russia's future, Brady offers the cautious "Pozhivyom uvidem. We will live and see." (Feb.) (c) Copyright PWxyz, LLC. All rights reserved

Choice Review

Brady, now editor of the European and Latin American editions of Business Week, was the magazine's Moscow bureau chief from 1989 to 1993. In this book she examines some of the economic and social changes in Russia during the 1992-97 period. She focuses on price liberalization and inflation, "insider" and "crony" privatization of state enterprises, individual entrepreneurs, corruption and crime, political rivalries, and Western investment in Russia. The volume does not undertake a comprehensive review of Russian economic reform and its consequences. For example, it does not cover systematically such aspects as agriculture, foreign trade, the military-industrial complex, the scientific research establishment, or health. Much of Brady's material is from interviews with officials, business people, and ordinary citizens. The volume contains photographs, a chronology of events, notes, and tables. As the unorthodox spelling of the title (a transliteration from the Russian) conveys, Brady's book is intended for general readers. Academic libraries may prefer a more scholarly treatment of Russia's economic reform experience, such as Andrei Schleifer and Daniel Treisman, The Economics and Politics of Transition to an Open Market Economy: Russia (1998). For general readers. M. Bornstein University of Michigan