R2120th&21

When Boris Yeltsin came into power, he wanted to change conditions in Russia to right the faulty economy, and encouraged shock therapy. In January 1992, he changed the economy from communism to free-market capitalism. Private property and industry were also introduced. The owners of the private industries soon became very wealthy and formed a new wealthy class in Russia. The wealthiest people were those in the oil and natural resources industry. With more industries and companies, the owners needed more workers causing more job opportunities. Many agricultural workers moved to the cities to work in the industries. Prices soon began to soar and those in the lower and middle classes were seeing their savings get smaller and smaller and were having a hard time buying things.

McKay, John P. __A History of Western Society__. Boston: Houghton Mifflin, 2003