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Witness History

Russia’s bitter taste of capitalism

Witness History

BBC

History, Personal Journals, Society & Culture

4.41.6K Ratings

🗓️ 26 June 2020

⏱️ 9 minutes

🧾️ Download transcript

Summary

Chaos and hardship hit Russia with the rapid market reforms in early 1992, just weeks after the collapse of the USSR. In 2018 Dina Newman spoke to one of the architects of this “shock therapy” - Andrei Nechaev, who was then the Minister for Economic Development.

This programme is a rebroadcast.

Photo: Old women selling cigarettes on the streets of Moscow in 1992. Credit: BBC.

Transcript

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0:00.0

Choosing what to watch night after night the flicking through the endless

0:06.8

searching is a nightmare we want to help you on our brand new podcast off the

0:11.8

telly we share what we've been watching

0:14.0

Cladie Aide.

0:16.0

Load to games, loads of fun, loads of screaming.

0:19.0

Lovely. Off the telly with me Joanna Paige.

0:21.0

And me, Natalie Cassidy, so your evenings can be a little less

0:24.9

searching and a lot more auction listen on BBC sounds.

0:29.2

Hello and welcome to the Witness History Podcast from the BBC World Service.

0:38.4

All this week as countries around the world consider how to rebuild their economies after COVID-19.

0:44.3

Witness history is looking back at previous attempts to reimagine society in the wake of a crisis.

0:50.0

In 1992 after the collapse of the Soviet Union, a new Russian government turned the country's economy from state-controlled socialism to free market capitalism almost overnight, and it led to widespread hardship.

1:03.8

In 2018, Dina Newman spoke to Andre Nichayev, a former Russian economy minister and the architect

1:10.8

of this policy of shock therapy. The Soviet Union ceased to exist on December 25, 1991,

1:25.0

when the last Soviet leader Mikhail Gurbachov resigned from his post.

1:30.0

Due to the situation which has evolved as a result of the

1:36.3

formation of the Commonwealth of independent states I hereby discontinue my

1:41.9

activities at the post of President of the USSR.

1:46.0

Mikhail Gurbachov was replaced by Boris Yeltsin as Russia's President.

1:50.6

Yeltsin appointed the government of young and ambitious academics whose job was to transform Russia into a market economy.

1:59.0

This was

2:05.0

unbridled by the most ambitious vision.

...

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