Look at data from the independent polling firm Levada and you’ll see that the percentage of Russians who regretted the Soviet collapse has dropped below 50 percent only once since 1992: in 2012, when it hit 49 percent. In the most recent polling, about 56 percent of Russians say they regret its fall.
To most, the destruction of the union’s shared economic system was the main factor — in Levada’s most recent poll, 53 percent listed it. The reasoning is understandable: The planned economy of the vast Soviet Union offered financial stability. In the immediate aftermath of its 1991 crash, it quickly became apparent that Russia’s new market economy would offer a rocky ride.
Economic reforms quickly had a harsh effect on general living standards. The ruble became almost worthless. Corruption was rampant. A deeply flawed privatization program helped put much of the country’s economy in the hands of an entrenched and often shady oligarchy. Then, just as things began to look up, the 1998 financial crisis hit and wiped out much of the limited gains that had been made.
The economy did finally begin to stabilize when Putin came to power. The new Russian leader went out of his way to confront the oligarchs. Meanwhile, the benefits of Russia’s rich natural resources began to filter through into the day-to-day economy, with real disposable income going up 140 percent between 2000 and 2007.
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