Casino Moscow: A Tale of Greed and Adventure on Capitalism's Wildest Frontier
Were Calvin Trillin or Philip Roth to take on the gaudy, seamy, bumptious, and often violent side of Russia's awkward tryst with capitalism, the result could not be funnier or the writing more skilled. Brzezinski, the nephew of former U.S. National Security Adviser Zbigniew Brzezinski, was a young journalist reporting from Moscow for The Wall Street Journal in 1997-98. With the insouciance of a self-admitted na•f, he wandered down alleys, into offices, backrooms, and parties where excesses were on extreme display. The book is a camera, not a treatise. It records the attitudes and deeds of a motley cast: 29-year-old bankers; the wealthy future deputy prime minister of Ukraine, Yulia Timoshenko; men in black leather and gold chains; the gray-suited erstwhile Soviet managers cum successful looters. It does not try to explain where they came from or how they figured in the broader process of change. It is a shake-your-head, laugh-out-loud book, but one with a good deal to say.
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Russia does not need a Pinochet, but it does need the Chilean economic model. For Russia to grow at self-sustaining annual rates of seven to ten percent for a decade or two -- the only way it can pull itself out of poverty -- it needs much more economic liberalization. Four reforms inspired by Chile's dramatic turnaround can help Russia out of its doldrums: pension privatization, tax reform, radical deregulation of coddled industries, and the replacement of the ruble with the euro. The indispensable element is not a strong four-star general but a team of determined economic policymakers who know that freedom works.
Russia's popular new president is better positioned than his predecessor was to enact needed reforms. But all of Vladimir Putin's efforts will come to nought unless he can do what Boris Yeltsin never did: rein in Russia's plutocrats. These ruthless oligarchs have fleeced Russia of staggering sums, seizing control of its oil industry -- one of the world's largest -- in the process. Through payoffs and intimidation, they have insinuated themselves into electoral politics and virtually immunized themselves from prosecution. None of Russia's problems -- neither its crippled economy, nor its emaciated infrastructure, nor its wheezing democracy -- will be solved while the robber barons retain their power. America cannot afford to sit on the sidelines any longer.
