Description
Book SynopsisA groundbreaking history of Russia, from empire to the Soviet era, viewed through the lens of its money.Money seems passive, a silent witness to the deeds and misdeeds of its holders, but through its history intimate dramas and grand historical processes can be told. So argues this sweeping narrative of the ruble''s story from the time of Catherine the Great to Lenin. The Russian ruble did not enjoy a particularly reputable place among European currencies. Across two hundred years, long periods of financial turmoil were followed by energetic and pragmatic reforms that invariably ended with another collapse. Why did a country with an industrializing economy, solid private property rights, and (until 1918) a near perfect reputation as a rock-solid repayer of its debts stick for such a prolonged period with an inconvertible currency? Why did the Russian gold standard differ from the European model? In answering these questions, Ekaterina Pravilova argues that politics and culture must be
Trade ReviewPravilova has carried out prodigious archival research. * Simon Dixon, Literary Review *
Groundbreaking history of Russia - from empire to the Soviet era - viewed through the lens of its money. Important and timely in the face of recent events. * Frederick Studemann, Books to Read in 2023, Financial Times *
This wonderfully intelligent, knowledgeable, and imaginative book on the ruble and financial policy fills an immense gap in our understanding of government, politics, and society in imperial Russia. * Dominic Lieven, Trinity College, Cambridge University *
The Ruble: A Political History is a magisterial account of the Russian currency as a tool of autocratic control—from Catherine the Great to the early Soviet times. Today, when the Russian imperialism is back and when Russian ruble is once again returning to nonconvertibility, Ekaterina Pravilova's book is more timely than ever. * Sergei Guriev, Sciences Po *
Award-winning author Ekaterina Pravilova asks, 'Can money have a story?' As regards the Russian imperial ruble from the eighteenth to the early twentieth century, she shows that most certainly it can—and what a story it can tell about a country, an economy, and a society! Her deeply researched and sharply argued book demonstrates how repeated Russian governments deployed currency and financial resources as a tool of domestic rule and geopolitical competition. Yet her work also elucidates unexpected and important currents of both liberal and conservative thought not visible in other accounts. A valuable and important account for historians of Russian imperial history, broader European history, and economic history. * Peter Holquist, University of Pennsylvania *
...original, fascinating and meticulously researched. * Eamonn Gearon, Wall Street Journal *
Ekaterina Pravilova's book displays admirable imagination and originality - as well as obvious, and dire, relevance to Russia's here and now. * Catriona Kelly, TLS *
The Ruble: A Political History is an impressive accomplishment. * The Russian Review *
Ekaterina Pravilova's The Ruble: A Political History persuasively offers Russia's currency as a case study in the entanglement of money and power, and in so doing, encourages us to understand what catalyzes these global trends. A 200-year 'biography of a currency,' the book positions the ruble as both an important part of imperial organization and an unexpected anchor of Soviet influence. The ruble also emerges, amid political and financial crisis, as a potential instrument of Russian democracy-yet its history ultimately demonstrates how a currency can become a primary tool for creating and maintaining an autocracy. * Carey K. Mott, Foreign Policy *
Table of ContentsAcknowledgments Introduction: The Ruble's Stories Part I: The Age of Assignats Chapter 1: Assignats: From Paper Substitutes to Paper Money Chapter 2: Autocracy or Representation? The Political Philosophy of Money in the Age of Napoleon and After Chapter 3: The End of Assignats Part II: Autocratic Capitalism Chapter 4: Paper Money in the Era of the "Great Reforms" Chapter 5: Ruble's Wars Part III: The Gold Reform Chapter 6: Witte's Rollercoaster Chapter 7: The Autocratic Standard Chapter 8: Practicing the Gold Standard Part IV: Ruble, Wars, and Revolutions Chapter 9: The Gold Syndrome Chapter 10: War and the End of the Gold Ruble Chapter 11: A Revolution That Did Not Happen Epilogue Notes Bibliography Index
