Russia: What Happens When Markets Fail

Easter has replaced Revolution Day as the most widely celebrated holiday in Russia. This Easter, my last in Russia, I spent with my friend Marina Nikolaevna Chudakova. At 73, she was too tired to attend Easter services, which started Saturday at midnight and continued almost till dawn. But she invited me to share her Easter meal. Her 78-year-old husband, Alexander Yevgenevich Chudakov, was in the hospital with heart problems. Their combined monthly pensions total $100. When Alexander feels strong enough to work at his physics lab, he brings in an additional $70 a month.

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