--- title: "Meaning & Key Takeaway of: The grand larceny that occurred in…" description: "\"The grand larceny that occurred in Russia, the corruption that resulted in nine or ten people getting enormous wealth through loans-for-shares, was con..." image: "https://sms4smile.com/quotes/i/a68/joseph-stiglitz-1351_corruption_the-grand-larceny-that-occurred-in-russi_1679712.jpg" --- # The grand larceny that occurred in Russia, the corruption… ![“The grand larceny that occurred in Russia, the corruption that resulted in nine or ten people getting enormous wealth through loans-for-shares, was condoned because it allowed the reelection of Boris Yeltsin.” quote by Joseph Stiglitz](https://sms4smile.com/quotes/i/a68/joseph-stiglitz-1351_corruption_the-grand-larceny-that-occurred-in-russi_1679712.jpg) [Download](https://sms4smile.com/quotes/i/a68/joseph-stiglitz-1351_corruption_the-grand-larceny-that-occurred-in-russi_1679712.jpg) [Open image](https://sms4smile.com/quotes/i/a68/joseph-stiglitz-1351_corruption_the-grand-larceny-that-occurred-in-russi_1679712.jpg) > “The grand larceny that occurred in Russia, the corruption that resulted in nine or ten people getting enormous wealth through loans-for-shares, was condoned because it allowed the reelection of Boris Yeltsin.” [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Political and economic reforms in Russia created massive wealth for a few, justified by the perceived need to secure political stability. **In simple terms:** Wealth for a few was accepted to keep the leader in power. Key Takeaway Question how short-term political goals can corrupt economic reforms. Themes politics economics corruption reform inequality Mood cautious critical reflective Type analytical political historical When to use this quote - post‑Soviet transition - policy making - public accountability - anti‑corruption initiatives Key Concepts neoliberalism elite capture rent seeking Questions to Reflect On - What are the long‑term costs of tolerating corruption for political gain? - How can societies balance stability with fairness? A Different Perspective Such shortcuts often undermine long‑term democratic health and public trust. ★ ★ ★ ★ ★ No ratings yet [Corruption](https://sms4smile.com/quotes/about/corruption/) [Corruption Resulted](https://sms4smile.com/quotes/about/corruption-resulted-945091/) [Grand Larceny](https://sms4smile.com/quotes/about/grand-larceny-945092/) [Occurred Russia](https://sms4smile.com/quotes/about/occurred-russia-945093/) [People](https://sms4smile.com/quotes/about/people/) [Russia](https://sms4smile.com/quotes/about/russia/) [Russia Corruption](https://sms4smile.com/quotes/about/russia-corruption-840378/) [Wealth](https://sms4smile.com/quotes/about/wealth/) ## Related quotes > [The bureaucracy has grown such powerful roots in Russia, and corruption is so widespread, that people from opposition have no interest in changing anything.](https://sms4smile.com/quotes/vladimir-sorokin/the-bureaucracy-has-grown-such-powerful-roots-in-russia-and/) [Vladimir Sorokin](https://sms4smile.com/quotes/author/vladimir-sorokin/) > [If we use goods made from raw materials that are obtained from a poor country without the proceeds being used to benefit the people…](https://sms4smile.com/quotes/peter-singer/if-we-use-goods-made-from-raw-materials-that-are-obtained-from-a-poor/) [Peter Singer](https://sms4smile.com/quotes/author/peter-singer/) > [What I have learned about corporate capitalism, roughly, is that it is an act of theft, by and large, through which a very few…](https://sms4smile.com/quotes/karl-hess/what-i-have-learned-about-corporate-capitalism-roughly-is-that-it-is/) [Karl Hess](https://sms4smile.com/quotes/author/karl-hess/) > [There is a difference between jaywalking and grand larceny.](https://sms4smile.com/quotes/gaylord-perry/there-is-a-difference-between-jaywalking-and-grand-larceny/) [Gaylord Perry](https://sms4smile.com/quotes/author/gaylord-perry/) > [“I thought about the kind of man who would stop off somewhere for a gun but not put on a pair of pants before…](https://sms4smile.com/quotes/tom-piccirilli/i-thought-about-the-kind-of-man-who-would-stop-off-somewhere-for-a/) [Tom Piccirilli](https://sms4smile.com/quotes/author/tom-piccirilli/) > [“Bribery quickly became an integral part of the Russian way of doing business, and the expense of buying a government official was considered the…](https://sms4smile.com/quotes/david-satter/bribery-quickly-became-an-integral-part-of-the-russian-way-of-doing/) [David Satter](https://sms4smile.com/quotes/author/david-satter/) > [The story started over a decade ago when I ran Hermitage Capital Management, the largest investment firm in Russia. I was very successful, but…](https://sms4smile.com/quotes/bill-browder/the-story-started-over-a-decade-ago-when-i-ran-hermitage-capital/) [Bill Browder](https://sms4smile.com/quotes/author/bill-browder/) > [As you fight corruption, it fights back.](https://sms4smile.com/quotes/yemi-osinbajo/as-you-fight-corruption-it-fights-back/) [Yemi Osinbajo](https://sms4smile.com/quotes/author/yemi-osinbajo/) > [Democracy must be built through open societies that share information. When there is information, there is enlightenment. When there is debate, there are solutions.…](https://sms4smile.com/quotes/atifete-jahjaga/democracy-must-be-built-through-open-societies-that-share-information/) [Atifete Jahjaga](https://sms4smile.com/quotes/author/atifete-jahjaga/) > [My aim was to make money for the bank. 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Right now we're concerned about the prospect of interest rate rise. We're concerned about government corruption, government handing…](https://sms4smile.com/quotes/amity-shlaes/right-now-we-re-concerned-about-budget-right-now-we-re-concerned/) [Amity Shlaes](https://sms4smile.com/quotes/author/amity-shlaes/) > [We could form a government of national unity fighting corruption. The ordinary Afghan is sick and tired of it, because it's she or he…](https://sms4smile.com/quotes/ashraf-ghani/we-could-form-a-government-of-national-unity-fighting-corruption-the/) [Ashraf Ghani](https://sms4smile.com/quotes/author/ashraf-ghani/) ## More by Joseph Stiglitz > [I grew up in a family in which political issues were often discussed, and debated intensely.](https://sms4smile.com/quotes/joseph-stiglitz/i-grew-up-in-a-family-in-which-political-issues-were-often-discussed/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.](https://sms4smile.com/quotes/joseph-stiglitz/but-individuals-and-firms-spend-an-enormous-amount-of-resources/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [China, with its large emerging middle class, is among the big beneficiaries of globalization.](https://sms4smile.com/quotes/joseph-stiglitz/china-with-its-large-emerging-middle-class-is-among-the-big/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [Trickle-down economics is a myth. Enriching corporations - as the TPP would - will not necessarily help those in the middle, let alone those…](https://sms4smile.com/quotes/joseph-stiglitz/trickle-down-economics-is-a-myth-enriching-corporations-as-the-tpp/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [Some people say we have this inequality because some people have been contributing much more to our society, and so it's fair that they…](https://sms4smile.com/quotes/joseph-stiglitz/some-people-say-we-have-this-inequality-because-some-people-have-been/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [It's actually a tribute to the quality of economics teaching that they have persuaded so many generations of students to believe in so much…](https://sms4smile.com/quotes/joseph-stiglitz/it-s-actually-a-tribute-to-the-quality-of-economics-teaching-that/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [In an economy, when the government spends more and invests in the economy, that money circulates, and recirculates again and again. So not only…](https://sms4smile.com/quotes/joseph-stiglitz/in-an-economy-when-the-government-spends-more-and-invests-in-the/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits.](https://sms4smile.com/quotes/joseph-stiglitz/the-laws-of-normal-economics-dictate-that-lower-taxes-combined-with/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [A less healthy America is not going to be as productive.](https://sms4smile.com/quotes/joseph-stiglitz/a-less-healthy-america-is-not-going-to-be-as-productive/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability -…](https://sms4smile.com/quotes/joseph-stiglitz/as-i-noted-in-my-nobel-lecture-an-early-insight-in-my-work-on-the/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [We noted the psychological problems facing many of the returning from Iraq veterans - of the 700,000 returning veterans, more than a 100,000 have…](https://sms4smile.com/quotes/joseph-stiglitz/we-noted-the-psychological-problems-facing-many-of-the-returning-from/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [World War II was really unusual, because America was in the Great Depression before. So the war did help the US economy to get…](https://sms4smile.com/quotes/joseph-stiglitz/world-war-ii-was-really-unusual-because-america-was-in-the-great/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [Moreover, because we chose to finance the way by borrowing, our deficits and debt has soared, and this means we have less room for…](https://sms4smile.com/quotes/joseph-stiglitz/moreover-because-we-chose-to-finance-the-way-by-borrowing-our/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [I've always been sceptical about the notion that the market is a person you can engage in an argument with, and that that person…](https://sms4smile.com/quotes/joseph-stiglitz/i-ve-always-been-sceptical-about-the-notion-that-the-market-is-a/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [The striking thing about America is - it's historically, extraordinary unusual,I don't of any other instance - is that productivity of workers and wages…](https://sms4smile.com/quotes/joseph-stiglitz/the-striking-thing-about-america-is-it-s-historically-extraordinary/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) [Explore all 251 Joseph Stiglitz quotes ](https://sms4smile.com/quotes/author/joseph-stiglitz/) ## More Corruption quotes > [We could form a government of national unity fighting corruption. The ordinary Afghan is sick and tired of it, because it's she or he…](https://sms4smile.com/quotes/ashraf-ghani/we-could-form-a-government-of-national-unity-fighting-corruption-the/) [Ashraf Ghani](https://sms4smile.com/quotes/author/ashraf-ghani/) > [Right now we're concerned about budget. Right now we're concerned about the prospect of interest rate rise. We're concerned about government corruption, government handing…](https://sms4smile.com/quotes/amity-shlaes/right-now-we-re-concerned-about-budget-right-now-we-re-concerned/) [Amity Shlaes](https://sms4smile.com/quotes/author/amity-shlaes/) > [In the lead up to the Iraq war and its later conduct, I saw at a minimum, true dereliction, negligence and irresponsibility, at worse,…](https://sms4smile.com/quotes/anthony-zinni/in-the-lead-up-to-the-iraq-war-and-its-later-conduct-i-saw-at-a/) [Anthony Zinni](https://sms4smile.com/quotes/author/anthony-zinni/) > [“Don't let cycles of violent crimes, uncontrollable, rising cases of bloody impunity, evil puppets in a crippled judiciary, marionettes in a corrupted legislative system…](https://sms4smile.com/quotes/angelica-hopes/don-t-let-cycles-of-violent-crimes-uncontrollable-rising-cases-of/) [Angelica Hopes](https://sms4smile.com/quotes/author/angelica-hopes/) > [What greater weakness can there be than not to know what is the source of one's being, of one's life, of one's senses, of…](https://sms4smile.com/quotes/jean-de-la-bruyere/what-greater-weakness-can-there-be-than-not-to-know-what-is-the/) [Jean de la Bruyere](https://sms4smile.com/quotes/author/jean-de-la-bruyere/) > [My aim was to make money for the bank. You lose track of the amounts involved when you are engaged in this kind of…](https://sms4smile.com/quotes/jerome-kerviel/my-aim-was-to-make-money-for-the-bank-you-lose-track-of-the-amounts/) [Jerome Kerviel](https://sms4smile.com/quotes/author/jerome-kerviel/) > [Democracy must be built through open societies that share information. When there is information, there is enlightenment. When there is debate, there are solutions.…](https://sms4smile.com/quotes/atifete-jahjaga/democracy-must-be-built-through-open-societies-that-share-information/) [Atifete Jahjaga](https://sms4smile.com/quotes/author/atifete-jahjaga/) > [As you fight corruption, it fights back.](https://sms4smile.com/quotes/yemi-osinbajo/as-you-fight-corruption-it-fights-back/) [Yemi Osinbajo](https://sms4smile.com/quotes/author/yemi-osinbajo/) > [Selfishness is one of the principal fruits of the corruption of human nature; and it is obvious that selfishness disposes us to over-rate our…](https://sms4smile.com/quotes/william-wilberforce/selfishness-is-one-of-the-principal-fruits-of-the-corruption-of-human/) [William Wilberforce](https://sms4smile.com/quotes/author/william-wilberforce/) > [ Corruption could lead to the collapse of the Party \[Communist Party of China\] and the downfall of the state \[People's Republic of China\]. ](https://sms4smile.com/quotes/xi-jinping/corruption-could-lead-to-the-collapse-of-the-party-communist-party-of/) [Xi Jinping](https://sms4smile.com/quotes/author/xi-jinping/) > [“Oh where is the noble face of modesty, or the strength of virtue, now that blasphemy is in power and men have put justice…](https://sms4smile.com/quotes/euripides/oh-where-is-the-noble-face-of-modesty-or-the-strength-of-virtue-now/) [Euripides](https://sms4smile.com/quotes/author/euripides/) > [I can say across Europe that many principles that have been taken for granted here around free speech, and around civil liberties and an…](https://sms4smile.com/quotes/barack-obama/i-can-say-across-europe-that-many-principles-that-have-been-taken-for/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [The victory of Hamas is not only based on the corruption of the Palestinian Authority. Hamas has a vision and a program, and this…](https://sms4smile.com/quotes/ismail-haniyeh/the-victory-of-hamas-is-not-only-based-on-the-corruption-of-the/) [Ismail Haniyeh](https://sms4smile.com/quotes/author/ismail-haniyeh/) > [It looked incredibly credible!](https://sms4smile.com/quotes/nicola-horlick/it-looked-incredibly-credible/) [Nicola Horlick](https://sms4smile.com/quotes/author/nicola-horlick/) > [All power corrupts but some must govern.](https://sms4smile.com/quotes/john-le-carre/all-power-corrupts-but-some-must-govern/) [John le Carre](https://sms4smile.com/quotes/author/john-le-carre/) [Browse all 2,253 Corruption quotes ](https://sms4smile.com/quotes/about/corruption/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "The grand larceny that occurred in Russia, the corruption that resulted in nine or ten people getting enormous wealth through loans-for-shares, was condoned because it allowed the reelection of Boris Yeltsin.", "creator": { "@type": "Person", "name": "Joseph Stiglitz" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/joseph-stiglitz/the-grand-larceny-that-occurred-in-russia-the-corruption-that/", "about": { "@type": "Thing", "name": "Corruption" }, "@id": "https://sms4smile.com/quotes/joseph-stiglitz/the-grand-larceny-that-occurred-in-russia-the-corruption-that/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/a68/joseph-stiglitz-1351_corruption_the-grand-larceny-that-occurred-in-russi_1679712.jpg", "contentUrl": "https://sms4smile.com/quotes/i/a68/joseph-stiglitz-1351_corruption_the-grand-larceny-that-occurred-in-russi_1679712.jpg", "url": "https://sms4smile.com/quotes/i/a68/joseph-stiglitz-1351_corruption_the-grand-larceny-that-occurred-in-russi_1679712.jpg", "width": 1080, "height": 1080, "caption": "“The grand larceny that occurred in Russia, the corruption that resulted in nine or ten people getting…” — Joseph Stiglitz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Joseph Stiglitz", "item": "https://sms4smile.com/quotes/author/joseph-stiglitz/" }, { "@type": "ListItem", "position": 4, "name": "The grand larceny that occurred in...", "item": "https://sms4smile.com/quotes/joseph-stiglitz/the-grand-larceny-that-occurred-in-russia-the-corruption-that/" } ], "@id": "https://sms4smile.com/quotes/joseph-stiglitz/the-grand-larceny-that-occurred-in-russia-the-corruption-that/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```