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fter the collapse of the Soviet Union, a team of young economic reformers led by Yegor Gaidar
worked to create a new economic future for Russia. Against an overwhelming threat of looming
hunger and civil war, they created a market economy which is still in place today. In the face of
crisis, a process of ‘shock therapy‘– involving the end of price regulation, the introduction of
privatization and a reduction in public spending – appeared necessary. Their plans have been the
subject of controversy ever since – the path to the new economy was not smooth and Russia continued
to struggle with economic crises throughout the 1990s. Yet Gaidar’s plans have been widely praised
for saving the country from complete collapse.
For the fi rst time in this book, the participants in the process reveal their experiences during those
frantic days, their insights into Yegor Gaidar and of the formation of post-Soviet Russia. In doing so,
Gaidar’s Revolution provides a unique perspective on contemporary Russia, making it an
indispensable resource for understanding its economic and political complexities.
Petr Aven is a Russian banker and economist who served as Minister of Foreign Economic
Relations for the Russian Federation (1991–2). He holds a PhD in Economics from Moscow State
University and is now Chairman of the Board of Directors of Alfa Bank, Russia’s largest commercial
bank. He is a trustee of the Centre for Economic Policy Research and a member of the Board of
Directors of the New Economic School in Moscow.
Alfred Kokh is a writer and economist who was a Deputy Prime Minister of the Russian Federation
in the 1990s and a chief architect of Russia’s privatization. He holds a PhD in Economics from the St
Petersburg Mathematics and Economics Institute of the Russian Academy of Sciences and is the
author of A Crate of Vodka: An Insider View on the 20 Years That Shaped Modern Russia and The
Selling of the Soviet Empire: Politics and Economics of Russia’s Privatization.
“Aven and Kokh provide a fascinating history of the second Russian revolution of 1989–92, as told