Gorbachev's take was "let's think it through and hear all opinions and then decide what should be done about long term future of USSR".
Yelsin dropped "let's think it through". Although privatisation of state enterprise by distributing vouchers to all citizens has merit on paper, one must ensure that population is educated about realistic ups and downs of stocks and is given some basic security to make long term rational decisions.
Putin dropped "hear all opinions"
The rest is history.
West should have bailed our Russia through some equivalent of Marshall plan to avoid present day situation.
> West should have bailed our Russia through some equivalent of Marshall plan...
Definitely should have. However, it would have fell into the lap of the US to give the lion’s share and I remain unpersuaded the US had at that time the economic strength to pull that off without putting itself into an existentially compromising posture. Politically I doubt the Russian Federation would have consented to the kind of terms Germany and Japan did for the Marshall Plan and GARIOA respectively.
The Marshall plan was offered to and declined by the USSR, and they declined on behalf of USSR Eastern European satellites, so there were marketing hooks to revive a Marshall Plan. I wouldn’t be surprised to find out informal overtures were made for a similar plan and rebuffed by the Russian Federation; after all NATO membership was briefly and informally broached.
I suspect the Cold War wore out both opponents, and for the US it was a closer call than many admit today. Much like WW2 in the first half of US involvement was a pretty close call that was only admitted much later.
US in early 90s way WAY healthier than US today, on the verge of dot com boom, and aid we would have provided would not be 100% loss like military aid to Ukraine today. What was needed is to give some kind of alternative work to employees of state enterprises, who were willing to work for very little money and had some skills. We ended up doing the same for China, only without any strategic goals and time limits. As a result, mid America now just about needs a Marshall plan itself to prevent political instability.
