Chrystia Freeland

This is the first account of Russia's second revolution - the country's dramatic, wrenching transition from communist central planning to a market economy. Written by one of the finest writers on contemporary Russia, it is told by interweaving high politics with glimpses of the revolution's impact on the lives of ordinary people. Beginning with a sharp portrayal of the dismal living conditions in the Soviet Union, she moves on to the romantic early days of the capitalist transformation. This was the height of market euphoria when, despite the chaos of everyday life, a prosperous future seemed within easy reach. Woven through the book are remarkable stories - of Yeltsin's use of popular psychics, of the might of the 'robber barons' who form alliances with criminal mafia gangs, of Machiavellian politicians who 'have dealt with the devil and believe they have made a good bargain'. In the final stage of the book, Freeland chronicles the end of the first wave of Russia's capitalist revolution, detailing the economic crisis currently rumbling through the country.… (mehr)

This book, written in 2012, talks about the growing wealth and power of the top 1% of global wealth-holders. It's well written and easy to read, although if you are not at all familiar with financial markets, you may find yourself "googling" a few things. While a lot has been said and written about the super-rich since 2012, I still gained some insights from Ms. Freeland's book.

One such insight was the concept of the "working rich". In previous generations, wealth was largely inherited. More of today's millionaires have worked for their money. Not all of them have produced useful goods or provided needed services; most of them work in finance or banking and manage hedge funds -- but they do work under stressful conditions.

Second, I learned what a small, insulated group the top 1% are. They go to the same events and holiday spots, and speak largely to each other. The same can be said for many groups, but this is a group which includes many politicians and has influence over the lives many of us live. My biggest worry about income inequality has become that of governing both governments and industries from a narrow perspective -- something that can only exacerbate the problems.

At first, I was left wanting more analysis in the book, but upon reflection, I am happy that Ms. Freeland described the issues as well as she did, enabling readers to draw their own conclusions.… (mehr)