Russia’s Avoidable Economic Decline

The Russian business environment does not provide conditions and a level playing field for small and medium businesses to develop and operate effectively. The situation in the country has created a maelstrom of vicious cycles, where the people do not trust the government and the government is afraid to make the courts independent, open up the political process, and liberalize the media due to fears of being overthrown by a wave of discontent. Twenty years after the collapse of Communism, Russia increasingly abuses individuals’ economic and property rights, thereby reducing the attractiveness of the country at home and its global competitiveness abroad. These developments are having dire consequences, including violence, a bloody revolution, and potentially, a civil war, for the country and the citizens, as economic growth slows down and the best and the brightest lose any hope and faith in the future of their country.

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