Nicholas Birman Trickett, "Empire of Austerity: Russia and the Breaking of Eurasia" (Hurst, 2025)

New Books in Economic and Business History · Aug 25, 2025 · 41m

Empire of Austerity: Russia and the Breaking of Eurasia (Hurst, 2025) traces how Russian economic policy precipitated the country’s slide towards an increasingly coercive authoritarianism, a hubristic challenge to the West, and all-out war with Ukraine. Decades of dependence on commodity exports, failure to invest and failure to consume enough have condemned not only the Russian Federation, but Eurasia more broadly, to stagnation and conflict. Only time will tell if Russia and its neighbours can escape the zero-sum politics of austerity in a world of rapidly evolving geopolitical, energy and…