Putin’s New Deal Spells End to 15 Years of Wage Gains

December 8, 2014 2:26 PM

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Vladimir Putin’s confrontation with the U.S. and Europe augurs a new deal for his 144 million subjects.

Instead of the rising living standards he’s delivered the past 15 years in exchange for the public’s acquiescence, the Russian president now holds out declining wages and more austere lifestyles as the price of swollen national pride.

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