In less than four years, Russia has undergone an astonishing sea change. Macroeconomic stabilization is but the start. Underlying the economy's rapid recovery is the emergence of a common set of fundamental political values. No one questions whether private property should be the basis of economic life. Tight monetary and fiscal policies are now de rigueur (until quite recently printing money to finance the budget deficit was widely considered acceptable). All major political forces (even of the left) support reducing taxes.
In less than four years, Russia has undergone an astonishing sea change. Macroeconomic stabilization is but the start. Underlying the economy's rapid recovery is the emergence of a common set of fundamental political values. No one questions whether private property should be the basis of economic life. Tight monetary and fiscal policies are now de rigueur (until quite recently printing money to finance the budget deficit was widely considered acceptable). All major political forces (even of the left) support reducing taxes.