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'This is a magnificent book. A tour de force exploration of the rollercoaster story of Western capitalists and their misadventures in post-Communist Russia chronicling the hope, the naivety, the idealism, the greed and arrogance and folly in glorious, highly-readable detail. There has been no more thorough, moving or better-researched study of the epic cycle of the opening of Russia’s economy in a blaze of ill-founded optimism in the early 90s to its closing in bitter recrimination and conflict in the wake of Putin's invasion of Ukraine.' 

Owen Matthews, author, Overreach: The Inside Story of Putin and Russia's War Against Ukraine

Available now to pre-order

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An independent publisher since 1969

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Zero Sum is part of Hurst's New Perspectives on Eastern Europe and Eurasia series, edited by Dr. Ben Noble of UCL

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NEW! In the United States, Zero Sum will be published by Oxford University Press.

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Synopsis

When the hammer and sickle flag came down in late 1991, a feverish new market called Russia opened for business. From banking to breweries, entire sectors emerged out of nowhere, in a country that had never had a functioning economy. For the next three turbulent decades, a wild, proto-capitalist free-for-all transformed Russian society.

Then, in 2022, Putin launched the full-scale invasion of Ukraine. The market started to collapse; Western firms fled Moscow’s skyscrapers. No country this large had ever transformed itself as dizzyingly as did Russia. Now, just as dramatically, it was over. The intervening decades saw phenomenal successes and crushing failures; the creation and destruction of enormous fortunes. How did it all happen?

Zero Sum brings to life the complex, vivid colour of one of the greatest experiments in the history of global commerce. What have businesses learnt—or failed to learn—from this adventure, both about Russia and about the dynamics between countries and companies in the face of relentless change? 

Biography

Charles Hecker has spent forty years travelling and working in the Soviet Union and Russia. He has worked as a journalist at The Miami Herald and The Moscow Times, and as a geopolitical risk consultant at Control Risks, where he was a partner in the firm.

 

While at Control Risks, Charles helped dozens of leading, international companies invest safely in Russia and manage the dynamic array of risks the country presented as it developed as a market. From 2000 to 2008, he was the managing partner of Control Risks' Moscow office.

 

He is a regular contributor to Monocle Radio and has offered expert commentary on Times Radio, CNN, the BBC, CNBC and Bloomberg TV, among others. ​
 

A fluent Russian speaker, he holds an undergraduate degree in Russian and Soviet Studies from the University of Pennsylvania and a master’s degree from the Russian Research Center (now called the Davis Center) at Harvard University.

Charles grew up in the Connecticut suburbs of New York City, with a brief stint in South Bend, Indiana. He has also lived in Miami and Moscow, and currently resides in East London.

 

If you would like a copy of Charles' professional CV, please use the request form further below.

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Photo credit: Larissa Kouznetsova

Selected Media

PODCAST

Monocle on Saturday​​​

19 October 2024

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PODCAST

European Resilience Initiative Centre​​​

11 October 2024

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PODCAST

Monocle on Sunday​​​

6 October 2024

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​Upcoming Events

  • Pushkin House - Discussion and Q&A with Bloomberg's Dasha Afanasieva
    Pushkin House - Discussion and Q&A with Bloomberg's Dasha Afanasieva
    Thu, 28 Nov
    Pushkin House and online
    28 Nov 2024, 18:30 – 20:30
    Pushkin House and online, 5a Bloomsbury Square, London WC1A 2TA, UK
    Please join Charles Hecker for a discussion about his new book Zero Sum: The Arc of International Business in Russia (Hirst, 2024). Hecker will explore the evolution of doing business in Russia, from communism to capitalism to collapse.
    Share
  • Book launch
    Book launch
    Tue, 12 Nov
    London
    12 Nov 2024, 18:30 – 21:30 GMT
    London, 21 Kensington Park Rd, London W11 2EU, UK
    Please join me and Hurst Publishers at The L&R Bookshop in Notting Hill at 18:30 on Tuesday, 12 November 2024, for the launch of my first book, Zero Sum: The Arc of International Business in Russia. Please RSVP (+1 very welcome) to contact@charleshecker.com. I will be thrilled to see you!
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