The 1998 financial collapse functioned as an exogenous shock that, in a quasi-democratic Russia, pushed aside the free-market liberals and triggered a panic about communist resurgence, leading the elite to anoint Putin as a 'strong guy' successor.
causalpending
Speaker
Michael McFaulEvidence Quote
“then they have a panic. Oh my god, the communists are going to take back over and that's when they say we better go with this strong guy, Putin.”
Source
“They’re Not Like Us”: Michael McFaul on Autocrats vs. Democrats and the Fight for the 21st Century— Hoover InstitutionCreated: 6/18/2026, 1:57:41 PM
My Notes
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