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The so-called voucher privatization program of 1992–1994 enabled a handful of young men to become billionaires, specifically by arbitraging the vast difference between old domestic prices for Russian commodities (such as natural gas and oil) and the prices prevailing on the world market.
A business oligarch is generally a business magnate who controls sufficient resources to influence national politics. [1] [2] A business leader can be considered an oligarch if some of the following conditions are satisfied:
Oligarchy (from Ancient Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few' and ἄρχω (árkhō) 'to rule, command') [1] [2] [3] is a form of government in which power rests with a small number of people.
The sanctioning of so-called oligarchs — wealthy Russians with strong political connections — comes as the U.S. and the West attempt to impose "maximum pain" on Russia to penalize it for its ...
[1] [2] Writing for the journal Foreign Affairs, political scientist Robert Legvold called the book "a masterful blend of adventure and serious, informed analysis." [ 3 ] Rosalie Parker, writing for The SAIS Review of International Affairs , gave a more mixed review which praised the book for its depth and digestible format while criticizing it ...
Sen. Bernie Sanders calls them "oligarchs," while Gov. J.B. Pritzker gets cheers when touting his own billionaire status.
We must either rise up and resist or cede what little political self-determination remains to a handful of oligarchs. Like a cancer, billionaire control is metastasizing in every facet of America ...
Privatization facilitated the transfer of significant wealth to a relatively small group of business oligarchs and New Russians, particularly natural gas and oil executives. [3] This economic transition has been described as katastroika , [ 4 ] which is a combination of catastrophe and the term perestroika , and as "the most cataclysmic ...