PDF Ebook The Oligarchs: Wealth And Power In The New Russia, by David E. Hoffman

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The Oligarchs: Wealth And Power In The New Russia, by David E. Hoffman

PDF Ebook The Oligarchs: Wealth And Power In The New Russia, by David E. Hoffman

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About the Author

David E. Hoffman is a contributing editor at the Washington Post. He covered the White House during the presidencies of Ronald Reagan and George H. W. Bush, and was subsequently diplomatic correspondent and Jerusalem correspondent. From 1995 to 2001, he served as Moscow bureau chief, and later as foreign editor and assistant managing editor for foreign news. He is the author of The Dead Hand, for which he won the Pulitzer Prize for general nonfiction.

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Product details

Paperback: 608 pages

Publisher: PublicAffairs; Revised, Updated ed. edition (September 13, 2011)

Language: English

ISBN-10: 9781610390705

ISBN-13: 978-1610390705

ASIN: 1610390709

Product Dimensions:

5.5 x 1.5 x 8.4 inches

Shipping Weight: 1.9 pounds (View shipping rates and policies)

Average Customer Review:

4.3 out of 5 stars

51 customer reviews

Amazon Best Sellers Rank:

#172,508 in Books (See Top 100 in Books)

The Oligarchs is a timely, telling, and tragic book.A depressing story of how a group of men who all started out as innovative reformers or dissidents in the withering Soviet Union all ended up as parts of a corrupt, exploitative post-communist system, the book is lavish in its detail but quite readable. The book is very educational on the causes of just how Russia ended up faring so poorly after the fall of the USSR. The lighter that started the wildfire of dubious privatization was the central bank printing money to bail out clunking industries and their hapless but connected "red directors". The inflation meant that legitimate forms of capital development (services, enterprenuership, even mining) became a lost cause, while one could make a fortune converting rubles to dollars to rubles to dollars. Thus the stage was set of profit-seeking.Anatoly Chubais, the privatization leader, is the most interesting figure. Reminiscent of nothing more than The Wire's notorious Mayor Carcetti, who turned from reformer to absolute man of the system, Chubais began wanting a sincere market and ended giving the economy to the oligarchs. The flaws in the approach of him and Yeltsin-simultaneously pushing ferociously for reform while at the same time being willing to water the reforms in question down to secure their pasage meant that the political system was destroyed for the sake of adding to the oligarch's wallets.This leads to the book's biggest weakness-not having political coverage to match the economic coverage. The constitutional muddle and deadlock that culminated in the violent confrontation in 1993 are barely mentioned, even though they would provide a parallel of flawed politics that matches the inflation-subsidy time of bad politics. And Hoffman also sugarcoats Yeltsin's rigged election in 1996-acting as if it was more fair than it actually was. Why is confusing, when he was perfectly willing to write that Yeltsin came within an inch of staging a coup and cancelling the election altogether.But in spite of these flaws, The Oligarchs is still a very good book.

This book traces the rise and in some cases the demise of six of the most cunning and ruthless men the world has experienced in recent times. These men became known as the Russian Oligarchs. They carried out the biggest heist in history but not without the assistance of powerful western money interests and the proponents of laissez-fire capitalism such as some of the major international banks, Wall Street’s richest partnerships, the JP Morgan Bank, Goldman Sachs and well known capitalist adventurers such as George Soros.The Oligarchs manipulated the new capitalist system that had been established upon the death throes of the centralised command economy in the Soviet Union. They ruthlessly accumulated massive wealth by grabbing Russia’s biggest factories, oil companies and mines.The author has done a masterful job in revealing the rise of the Oligarchs who shrouded their activities in secrecy as they plundered the Russian estate. The Oligarchs were regarded as the sons of Yeltsin’s unruly capitalism. Yeltsin was a proponent of economic shock therapy with the aim of totally destroying Soviet Communism. He set out to put the enormous industrial wealth of the country into private hands. The Oligarchs utilised Yeltsin’s ambitions to their own enormous advantage. They became members of Yeltsin’s inner circle and manipulated by all available means the massive fire sale of Russia’s state assets to their own advantage. The Oligarchs bankrolled the seriously ill Yeltsin’s election campaign to ensure his hold on power during his dying days in power. They controlled the media and were able to manipulate Yeltsin’s public appearances to disguise his state of health. But at his end Yeltsin had to concede that privatisation had been exploited by the rapacious Oligarchs. Too late, he asked in his farewell speech for the forgiveness of the Russian people.The Oligarchs were instrumental in Putin’s rise from obscurity as a means for their own advancement through the continued exploitation of the privatised state assets. To achieve their declared objective of maintaining the continuity of power after Yeltsin the Oligarchs found their preferred successor in Putin and manipulated his election to power. Putin was destined to clash with the Oligarchs because his personal ideology retained many aspects of the old soviet approach to power. Putin believed that everything had to be governed from above and it was therefore necessary for him to concentrate power, to control the mass media and to rule business. Inevitably Putin soon fell out with the key Oligarchs which meant that the days of glory for the Oligarchs were rapidly drawing to a close. New players were coming, new fortunes were being made and a new Russian leader sat in the Kremlin.Putin had thwarted and betrayed the Oligarchs. He said to the Oligarchs- you were the ones who asked me to be president so how can you complain? The Oligarchs had no answer. Their days of prominence had ended.But large parts of the huge fortunes the Oligarchs and their cohorts had amassed had been salted away to safe havens around the world. Their fall from grace in Russia would curtail their activities in their homeland but would not drastically impact on their wealthy lifestyles. Putin exacted punishment on those of the Oligarchs who resisted him and most are now exiled from Russia and have slipped entirely from public view.

As someone has already said ... read this book first before trying to study modern Russian history. The 'why's' of today are spelled out in detail for those who take the time to read.With respect to all of modern history it might be helpful to note the oligarchs showcased here with all their money never once thought to work together towards charitable goals such as perhaps ... regional children's hospitals for sick and injured children.Just one major and recognized charitable system for Russian citizens might have grabbed the attention and support of the Russian citizenry for decades.But their greed was just all consuming.I think I understand now why Management and Corporate Ethics is required coursework in American Business Schools.

This is the most comprehensive explanation of how the Russian economy transformed itself from primarily state owned to largely privately owned during the Gorbachev and Yeltsen eras. The reader will find how these Oligarchs were able to acquire state owned industry for pennies on the dollar when no one would have thought it was possible. It is a story not generally understood by most Americans but is essential to understanding the subsequent Putin control of government. Extremely well written and rich in detail, I found Hoffman's writing style admirable. I only wish he would do a second book starting with Putin.

Informative in what transpired in Russia as they moved from socialism to a form of "capitalism." Just wish it had some more current insight into Putin and what he really controls. In reality we may never know.

Read this book. It describes in great detail the economic death throes of the USSR and the fight that erupted after its fall to create a new economic structure for Russia.

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