A Nation Must Think Before it Acts
FPRI’s Chris Miller Covers Russian Economic Problems in Moscow Times
A nation must think before it acts.
FPRI’s Chris Miller Covers Russian Economic Problems in Moscow Times
“The parallels between the Soviet Union in the 1980s and Russia today are eerier than the oil price alone suggests. A pointless war — Afghanistan then, Ukraine today — sapped economic strength and provoked Western sanctions. During the Soviet period, food subsidies cost the government billions of rubles. Today, according to IMF data, Russia’s energy subsidies waste about 5 percent of GDP each year. Rapid salary increases for state employees cost billions more.”