The book deals with economic reform in USSR since 1985 particularly perestroika and glasnost, and in Russia from 1991 relating to voucher and monetary post-voucher privatization. It critically analyses the consequences of reform in Russia such as 1998 economic crisis, emergence and rise of oligarch, financial-industrial groups (FIG), underground economy, gangster capitalism and flight of capital and brain. It has compared reform process in Russia with that of China, viz. shock therapy versus gradualism. After analysing the economic reform in India, it concludes that both India and Russia can learn from each other from their own experience in economic reform, privatization and liberalization.