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Term Of The Hour

economic decline state: Original post by Walter Johnson of Demand Media “Privatization” in Russia and Ukraine is a bad word. From 1992 to 1998, these two economies saw the disastrous policy of privatizing many state-owned firms, especially larger ones. As this occurred, much capital fled the country, the state received little in taxes and the newly rich used their power to avoid taxes altogether. Clearly,…

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