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“Peoples’s Privatisation” Proved a Sham
 
Voucher’s value = 10,000 roubles = half the price of a Lada car in 1991
In 1993 the population was to either sell their vouchers for cash or use them to buy shares in privatised companies
By the end of 1993 the voucher became almost worthless: 10,000 roubles = 3-4 bottles of vodka
The lion’s share of state property was seized by a small group of economic managers and nomenklatura capitalists
 
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Russia's Privatisation

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Russian Federation
The "Catching up" Cycles
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Great Leap to Capitalism
Russia's Privatization
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