Word: yeltsin
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...When Yeltsin decapitated the old command system without putting something new in its place, Russia became a battlefield on which the concepts of free enterprise and state control went...
...side are the reformers, led by Yeltsin and acting Prime Minister Yegor Gaidar, who want to instill the basics of capitalism through rapid privatization, price decontrol and tight money to curb inflation. On the other are the conservatives, who argue that such policies will destroy Russia's industrial base and exact too high a human cost...
...past 11 months, Yeltsin has freed prices of consumer goods and begun selling state property into private hands. But the reforms have ripped Russia's social safety net, worsening inflation, unemployment and standards of living and even creating nostalgia for communist rule. To go forward, officials must next settle the fate of thousands of outmoded factories, where millions of workers produce heavy goods ranging from T-72 tanks to rolled steel. While the reformers want to halt government subsidies to the state- owned dinosaurs and let them die out, opponents argue that the shutdowns would devastate entire regions that totally...
...effort to break the stalemate, Yeltsin last week tried to strike a deal with critics that was aimed at easing economic hardship over the next six months while retaining the main elements of reform. But the deal fell through. Gaidar refused to yield to conservative demands for wage and price freezes or restoration of state control over distribution of resources...
Tougher still could be overcoming powerful conservative resistance to private ownership of land. Laments Gaidar: "Without private land ownership, it is almost impossible to launch the full range of market mechanisms to support agriculture." In desperation, Yeltsin issued a presidential decree last month ordering land to be included in property that Russians can buy with vouchers...