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. Last Updated: 07/27/2016

Building People's Capitalism

Analysts from First Deputy Prime Minister [Boris Nemtsov's] office say Russia's transition to capitalism can be divided into three stages.

At the beginning of the 1990s, a "nomenklatura capitalism" took shape in the country. Power was privatized by the bureaucrats. That was then replaced by "oligarchy capitalism," when large property owners took power. Now, amid oligarchy capitalism, financial clans are constantly destroying each other, and any property owner can lose everything in an instant.

Today, the government is promising that "people's capitalism" will be built in two years.

A secret memo that a Moskovskiye Novosti reporter managed to read at one of the government's analytical centers says: "It would be expedient for Boris Nemtsov to act as the propagandist for 'people's capitalism.' A capitalism that foresees a strong state, the establishment of normal game rules for all [federation] subjects, limits the bureaucracy's privileges and establishes government control over big business."

It would appear that Nemtsov has really thrown himself into fulfilling this task.

Moskovskiye Novosti, Sept. 21.