Essay on Russia for IDS150

Essay on Russia for IDS150 - However this was not the case...

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Weatherly Anna IDS 150 Elizabeth Carlson Essay # 2 Was Russia's economic failure inevitable? During the past decade, Russia underwent a major change in economic, political and social spheres. The country grew rapidly adjusting to the principles of free market economy, which was almost a taboo during Communism. Poverty in Russia has declined steadily and the middle class has continued to expand. Russia ended 2008 with its tenth straight year of growth, averaging 7% annually since the financial crisis of 1998 1 . In the first year of his term, President Medvedev outlined a number of economic priorities for Russia including improving infrastructure, innovation, investment, and institutions; reducing the state's role in the economy; reforming the tax system and banking sector; developing one of the biggest financial centers in the world, combating corruption, and improving the judiciary.
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Unformatted text preview: However this was not the case for the most of 20 th century. Soviet’s economic failure was inevitable as the Bolshevik regime established after 1917 abolished major human rights, destroyed a system of free enterprise and, the most important chain in any economic development- human capital. Repeated devastating defeats of the Russian army in World War I led to widespread rioting in the major cities of the Russian Empire and to the overthrow in 1917 of the 1 CIA World Factbook imperial household. The Communists under Vladimir LENIN seized power soon after the Revolution and first major The freedom of press abolished, classes abolished, judicial system abolished, liquidation of private property The brutal rule of Iosif STALIN strengthened Communist rule and Russian dominance of the Soviet Union at a cost of tens of millions of lives....
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This note was uploaded on 04/29/2009 for the course IDS IDS150 taught by Professor Mitchell during the Winter '09 term at UCLA.

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Essay on Russia for IDS150 - However this was not the case...

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