Which of the following best characterizes the type of capitalism that has emerged in Russia since the collapse of the Soviet Union?

Question

Quizplus · Accepted Answer

Since the collapse of the Soviet Union, Russia's economy has been described as having an odd mix of communism, capitalism, and organized crime. This is characterized by a small group of wealthy and powerful individuals who control a significant portion of the country's resources and businesses, while many ordinary citizens struggle with poverty and unemployment. Lower levels of inequality and a strong welfare state are not accurate descriptions of Russia's capitalist system. While there may be competition in some sectors, overall, the concentration of power and resources in the hands of a few individuals suggests that competition is not the defining feature of Russia's capitalism.

Which of the Following Best Characterizes the Type of Capitalism