During the period from 1991-1998 Russia underwent a transition into a market economy with devastating socioeconomic consequences and industrial decline. Socioeconomic decline of Russia during this period resulted from a unique form of primitive accumulation that resulted in the de-development of Russia’s economy and society. Russia’s phase of primitive accumulation from 1991-1998 not only led to a devastating decline in human development indicators of health, poverty and gender equality, but even in economic terms, the capitalist economy that emerged is a regression towards a lower production scale than the industrial giant that it once was. Russia has not simply reached a phase of underdevelopment, but has in fact de-developed.
About the presenter:
Hamid is a Master's candidate in International Development Studies at Dalhousie University.
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