(Global Brief) How is the Russian man doing in 2013, nearly a century after the Russian Revolution and just over two decades after the fall of the USSR?
Moscow, Europe’s largest city, has more dollar billionaires than any other city in the world. All told, there are 84 Muscovite billionaires, collectively worth US $367 billion.
In the USSR, of course, there were hardly any millionaires, let alone billionaires. But there were also no homeless and no unemployed people. Today’s Russia has plenty of both.
The market reforms of the early 1990s led to Russia’s "transformational recession" – an unprecedented collapse of national output. […]
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