Oligarchs in Russia gained power and wealth during the transition from communism to capitalism, causing negative impacts on the population. The shift to capitalism led to economic challenges and hindered social mobility for many Russians.
Oligarchs in Russia today are wealthy individuals who gained power and riches during the transition from communism to capitalism. They accumulated wealth by seizing state-owned assets during the privatization after the collapse of the Soviet Union, which led to a concentration of economic and political influence.
Capitalism was perceived as worse than communism initially in Russia due to the rapid privatization and economic restructuring that resulted in wealth shifting from the political elite to the business elite. This led to high social costs, unemployment, housing price increases, and currency devaluation, impacting the population negatively.
Oligarchic structures in Russia have hindered socioeconomic advancement for middle- and lower-class citizens, establishing a system where a small group holds significant power and resources, making it challenging for others to progress financially and socially.
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