Product Description

An account of Russia's second revolution - the country's wrenching transition from Communist central planning to a market economy - told by interweaving high politics with glimpses of the revolution's impact on the lives of ordinary people. Beginning with a glimpse of the dismal living conditions in the Soviet Union, with its grinding shortages and bureaucratic restrictions, it moves on to the romantic early days of the capitalist transformation, the period between 1991-93 when prices were suddenly liberated and nearly half of the country's economy was sold off through mass privatization. This was the height of market euphoria, when, despite the chaos of everyday life, the freedoms of capitalism were a revelation and a prosperous future seemed within easy reach. The final stage of the book chronicles the end of the first wave of Russia's capitalist revolution - the economic crisis which is currently rumbling through the country. This crisis, which has triggered a crash in the stockmarket and a huge devaluation of the rouble, marks the conclusion of the first foundation-laying stage of Russia's capitalist transition.

Product Details

• Amazon Sales Rank: #910844 in Books
• Published on: 2000-05-25
• Original language: English
• Binding: Paperback
• 381 pages

Amazon.co.uk Review
"Everything Marx told us about communism was false. But it turns out that everything he told us about capitalism was true". So says one Russian friend of Chrystia Freeland, author of the remarkable Sale of the Century: The Inside Story of the Second Russian Revolution, which tells the story of "Russia's flawed capitalist revolution" from Boris Yeltsin's election as president of Russia in 1991 to his resignation on the last day of 1999.

Freeland spent three years as the Moscow bureau chief for the Financial Times between 1995 and 1998, leaving her uniquely placed to write one of the first accounts of Russia's exhilarating, but also painful and desperate transition from communism to capitalism in the final years of the 20th century. She charts the initial hope inspired by the young reformers led by Anatoly Chubais and Yegor Gaidar, who introduced the free market "shock therapy" in 1992 which kick-started the Russian capitalist economy, to the corruption and cynicism of the oligarchs like Vladimir Gusinsky and Boris Berezovsky, who got rich quick by seizing the valuable remnants of the old Soviet economy and (in some cases literally) making a killing. Freeland tells a fascinating story as she travels the country from the Siberian gas fields to the inner sanctums of the Moscow oligarchs. In the process she comes to realise that "Russia had freed itself from communism but not from the communist legacy; it had constructed its own capitalist system, only to discover it had built the wrong kind." This is an absorbing and highly readable book detailing history in the making, as one the world's most powerful nations teeters on the brink of renewal or disaster; if Marx could read Sale of the Century, he would undoubtedly applaud. --Jerry Brotton

About the Author
Chrystia Freeland is Moscow Bureau Chief for the FINANCIAL TIMES

Customer Reviews

A clear account of the post-Communist asset grab!
Amongst the many books on this subject which I have read, I found this to be a remarkable book. The content will astonish even the most staunch market capitalist, but also the clarity of style and story-like weaving of the author's approach makes this book difficult to put down. Chrystia Freeland explains (often amusingly) the complicated subject of how and why Russia got into such a mess after Yeltsin, in August 1991, "clambered onto a tank" proclaiming freedom and prosperity to the Russian people. This difficult to understand subject has been delivered in an easy-to-take pill. A step by step illumination unravels the wheeling/dealing psychology and self-justification of the grabbers and the frustrations of the motivated Young Reformers with whom they made their uncomfortable alliance. The Prologue, a moving personal story of a Kazan orphan being adopted by a Canadian family, sets the mood. The book then rapidly moves into a roller coaster world of cold-hard business, obstinate red-managers, Machiavellian civil servants and bewildered politicians. Various oligarchs and ordinary Russians are singled out and their stories are told candidly in journalistic style. One can't help but admire the plots and sub-plots which, if they were not factual, would make for far fetched fiction. The icing on the cake comes with the closing chapter, simply called "Conclusion". It recalls the exhilarating but sad fact of how it all went sour but goes on to uncover, if not predict, the revival of the old Slavonic idea of the Russian spirit.

the definitive guide to Russia�s high politics 1991-99
This is a fascinating and readable account of how Russian capitalism came about. I worked in Russia from 1995-99 (auditing & venture capital) so I was intrigued to read about a period that I had experienced and but not fully understood.

In my opinion it is incredibly difficult to write a good book about recent events in Russia, and this is a real achievement. Complex events are explained with clarity and verve. The author's access to many of Russia's senior businessmen and politicians provides strong primary historical evidence of events that I had thought were shrouded in mystery. The Russian oligarchs that colluded with the state to take valuable companies at knockdown prices (hence "Sale of the Century") are incredibly indiscreet (or brazenly frank) in interviews with Freeland about their often corrupt practices.

Whilst there are some terrific books about the 1917 revolution (e.g. Figes), it is wrong to have the same expectations of a book about recent events because we still trying to make sense of them. Freeland has emphasised the events that she experienced directly, or that are well documented, but there is a great deal left for other writers to cover.

It is a page-turner, and always readable, but there are times when, in adding local colour, Freeland over-embellishes. The descriptions of Tverskaya's prostitutes and some out-of-Moscow trips are clichés that do not ring true. More seriously, the lack of contact with mid-ranking entrepreneurs and the Russia outside of Moscow skews the book's perspective - although this is a failing shared by Russia's political elite.

This is probably the definitive guide to Russia's high politics from 1991-99 and I recommend it strongly.

Respect to the author on an amazing insight
I approached this after a friend's recommendation and I can honestly say that it is the best book I have read in the past year. This reads just like a flowing novel on what is traditionally a dour and complex topic (in my opinion). Chrystia manges to capture all the detail surrounding the fall and rise including glimpses of Kremlin life that all too often seem a wayward leap from my Western reality. Completely captivating and difficult to put down. Read it.