Image: Times of London
We often say that China is the Ultimate Crony Capitalist State, but Russia is right there with China when it comes to cronyism. Putin’s Russia is a strongman’s realm. With Putin as capo di tutti capi his underlings, his cronies, exploit the state and economy for amazing wealth. So long as they stay in the good graces of Putin they get to enjoy it. It’s not unlike the royal systems of old and no doubt Putin sees himself at least as much czar as president.