17: Money and Economy after the Fall of the USSR - From Rubles to Chaos

About this episode

Kate Saba explores the economic and cultural impacts of the Soviet Union's collapse in 1991.

What did it really feel like to live through the collapse of the Soviet Union? In this episode of The Soviet Life , host Kate Saba explores the dramatic fall of a superpower and the economic and cultural shockwaves that followed. From the moment the Soviet system dissolved in 1991, millions of people were thrust into a completely new reality. Savings disappeared overnight due to hyperinflation, currencies lost value, and privatization reshaped entire economies—often creating vast inequality and giving rise to powerful oligarchs. But beyond the economics, this episode captures something deeper: the human experience of uncertainty, adaptation, and resilience. Through personal insight and storytelling, Kate walks listeners through what it meant to go from a structured, planned economy to a free-market system with no guidebook—where suddenly, everything from jobs to identity was in flux. 💬 “It felt like a family breaking apart.” 💬 “Money became critical—but unreliable.” Key Topics: The collapse of the Soviet Union in 1991 Hyperinflation and currency instability in post-Soviet states Privatization and the rise of oligarchs Transition from planned economy to capitalism Cultural and…

People in this episode

Host: Kate Saba

Topics covered

• collapse of the Soviet Union
• hyperinflation
• privatization
• economic change
• human resilience
• cultural impact

Keywords

• Soviet Union
• hyperinflation
• privatization
• oligarchs
• economic chaos
• free market
• cultural shock
• human experience
• resilience

Mentioned in this episode

Organizations: Soviet Union, oligarchs

Products: Rubles

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