The very notion of the state implies that public authorities hold monopolies on three functions:
- Legitimate use of violence
- Provision of revenues by collecting taxes
- Control of monetary emission
All three monopolies were undermined in Russia during the 1990s to such an extent that the very existence of the state was put into question. The government failure became pervasive and much more visible than the market failure. […]
Memo #:
342
Series:
1
PDF:
PDF URL:
http://www.gwu.edu/~ieresgwu/assets/docs/ponars/pm_0342.pdf
