Russian communists visiting Lenin's mausoleum in Moscow's Red Square
One of the architects of Russia's capitalist revolution discusses how the country's economy will ride out the deepending recession.
One popular theory is that long-standing capitalist economies, might be better able to withstand the bumps of recession. It is something that has happened before and people adjust, albeit with pain but in a stable framework. Cycles happen - so the theory goes.
The impact on new economies like Russia's which have only been capitalist for the last 20 years is likely to be more severe.
anti-tax demonstrations
In the last six months, industrial production has plunged by 20%. Oil prices have fallen from $140 a barrel to around $40 - knocking a hole in the government's tax revenues.
In Vladivostock on the Pacific coast, Russian car importers have demonstrated against tariffs on vehicles imported from nearby Japan.
Does this, then, presage more disruption and will the Russian economy weather the storm?
To find out, Business Daily turned to one of the key players in the formation of the modern Russian market economy. Yegor Gaidar, who became prime minister just after the Soviet regime fell.
Listen Listen to Steve Evans's interview with Yegor Gaidar (4 mins 23 secs)
First broadcast on Business Daily on 17 February 2009
