Konstantin Sonin: Ruble’s fall echoes 1991, not 1998
Currency exchange board shows rates in central Moscow on Sept. 15, 2014.
The ruble-to-dollar exchange rate dominated headlines this week, falling to a record low of 42 rubles to the US dollar. Considering the extraordinary events of recent months, why would anyone but a historian take any interest in looking back to the spring and summer of 1991 to consider what it can teach us about world order, international security, Russia's history and its path to development?
