Sale of the Century: The Inside Story of the Second Russian Revolution

Freeland spent three years as the Moscow bureau chief for the Financial Times between 1995 and 1998, leaving her uniquely placed to write one of the first accounts of Russia's exhilarating, but also painful and desperate transition from communism to capitalism in the final years of the 20th century. She charts the initial hope inspired by the young reformers led by Anatoly Chubais and Yegor Gaidar, who introduced the free market "shock therapy" in 1992 which kick-started the Russian capitalist economy, to the corruption and cynicism of the oligarchs like Vladimir Gusinsky and Boris Berezovsky, who got rich quick by seizing the valuable remnants of the old Soviet economy and (in some cases literally) making a killing. Freeland tells a fascinating story as she travels the country from the Siberian gas fields to the inner sanctums of the Moscow oligarchs. In the process she comes to realise that "Russia had freed itself from communism but not from the communist legacy; it had constructed its own capitalist system, only to discover it had built the wrong kind." This is an absorbing and highly readable book detailing history in the making, as one the world's most powerful nations teeters on the brink of renewal or disaster; if Marx could read Sale of the Century, he would undoubtedly applaud. --Jerry Brotton

In my opinion it is incredibly difficult to write a good book about recent events in Russia, and this is a real achievement. Complex events are explained with clarity and verve. The author's access to many of Russia's senior businessmen and politicians provides strong primary historical evidence of events that I had thought were shrouded in mystery. The Russian oligarchs that colluded with the state to take valuable companies at knockdown prices (hence "Sale of the Century") are incredibly indiscreet (or brazenly frank) in interviews with Freeland about their often corrupt practices.

Whilst there are some terrific books about the 1917 revolution (e.g. Figes), it is wrong to have the same expectations of a book about recent events because we still trying to make sense of them. Freeland has emphasised the events that she experienced directly, or that are well documented, but there is a great deal left for other writers to cover.

It is a page-turner, and always readable, but there are times when, in adding local colour, Freeland over-embellishes. The descriptions of Tverskaya's prostitutes and some out-of-Moscow trips are cliches that do not ring true. More seriously, the lack of contact with mid-ranking entrepreneurs and the Russia outside of Moscow skews the book's perspective - although this is a failing shared by Russia's political elite.

This is probably the definitive guide to Russia's high politics from 1991-99 and I recommend it strongly.


For the 94-2000 expats   December 19, 2002
1 out of 2 found this review helpful

It is a great tale about what probably really happened behind the scenes. For those living in Moscow during this period and who took part it is a great summary.

In terms of economics explanation, it probably is a little bit too simplistics, but I don't think that's the purpose of the book.