Economics
State Capture by Oligarchic Networks in Transitional Economies
Quick fact
In 1990s Russia, the 'loans-for-shares' scheme allowed a small group of oligarchs to gain control of major state-owned oil and metal companies for a fraction of their value, effectively capturing the state's economic levers.
Why this is interesting
When a country's government writes laws that benefit a handful of billionaires, democracy is not failing—it may have been captured. How do private networks take control of the state without a coup?