The Grand Bailout.

The article assesses the implications of the liberalization programs launched by Russia and its commonwealth partners in 1992. It criticizes the insufficiency of the U.S. economic aid for the liberalization programs due to the budgetary crisis being faced by the country. It examines the evidence of the failure of the introduction of price liberalization in Russia. It also identifies the problem of mass employment which poses a real threat to the democratization of the country. It calls for the West to provide economic aid to economies that guarantee quick privatization of state enterprises.