Show Notes
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#loansforsharesprivatization #postSovietoligarchs #mediaownershipandpoliticalinfluence #1998Russianfinancialcrisis #Putinandoligarchicpower #TheOligarchs
The Oligarchs: Wealth and Power in the New Russia by David E. Hoffman is a non-fiction history and political economy account of Russia’s transformation after the collapse of the Soviet Union. The book examines how a small circle of businessmen, bankers, media owners, and political insiders accumulated extraordinary wealth and influence during the chaotic privatization of the 1990s. Rather than treating that period as a simple market transition, Hoffman shows it as a struggle over state assets, access, and leverage, where weak institutions allowed private power to grow alongside political instability. The narrative is built around major figures such as Boris Berezovsky, Mikhail Khodorkovsky, Vladimir Gusinsky, Alexander Smolensky, Yury Luzhkov, and Anatoly Chubais. Through their stories, the book explains how privatization, media control, election politics, and financial crises reshaped the Russian state and helped set the stage for Vladimir Putin’s rise.