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    February 05 Financial Times: ..., 2005-04-14 09:39:43 | Main | the non-existent refugee crisis..., 2005-04-14 11:15:16

    There was, a while back, some talk in libertarianesque circles about privatizing Iraq's state assets by parcelling them out to individual Iraqis: apparently that was done in Russia:

    The disastrous privatization policy is one example. Although most of the privatization took place after Sachs left Russia, at the end of 1994, the original policy framework was put in place in 1992 and 1993, when he was still there. Each Russian was given a voucher worth ten thousand rubles to bid for stocks in newly private companies. Many people didn’t understand what was happening, and they sold their vouchers cheaply to better-informed insiders, who ended up controlling many of the privatized companies.


:: posted by buermann @ 2005-04-14 10:15:45 CST | link





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