Abstract
After Gorbachev's resignation as Soviet leader in December 1991, it was his successor, Boris Yeltsin, who in effect embarked upon systemic transformation aiming to change Russia into a democratic state with its national economy based on market forces. As Russia had never before experienced democracy and very little, if any, market economy that dual occurrence amounts to nothing less than a revolution. The fact that Russia never experienced democracy b efore does not by itself mean its current efforts to achieve it are doomed to failure. What it means is that it will not be easy to attain an enduring stable democracy without simultaneously achieving a meaningful level of economic success. The fate of democracy in Russia is closely linked to economic progress in the country. This article argues that the ultimate outcome of the ongoing Russian revolution is not yet a foregone conclusion; many things may still happen in the foreseeable future to strongly affect the nascent Russian democracy in oneway or another.