Ruth May is a professor of global business in the Satish & Yasmin Gupta College of Business at the University of Dallas, and a King fellow of the university. (January 2018)

NYR DAILY

Putin: From Oligarch to Kleptocrat

Oligarchical capitalism destroys legitimate competition and eats away like a cancer at the resources of a nation. Any semblance of dynamic, healthy competition is strangled by fake competition based solely on firms’ relationships with people in power. The twenty or so oligarchs in Putin’s Russia do not get access to powerful people in government because of their wealth, as is the case, say, with many billionaire political donors in America, but rather, the reverse. Russian oligarchs get access to obscene amounts of wealth because they are loyal to the only person in government who matters: Vladimir Putin.