In an interview with Yahoo Finance, former Trump economic advisor Judy Shelton drew a striking parallel between Donald Trump’s economic strategy and Russia’s transformative reforms during the 1980s.
Shelton, a longtime critic of centralized economic planning, recalled her early career evaluating the financial collapse of the Soviet Union:
“I started my career analyzing the internal financial and monetary condition of the soviet union. That’s going back to the mid 80s.
Remember, they wanted to have perestroika, that means ‘rebuilding’ that was their transformation.
There economy was failing because it was too much government.
It was based on a stat-managed economy. and they knew they couldnt suvive if they didn’t rebuilld it. …
And to the amazement of many people in the west – and this is when i was a research fellow at the hoover institution on a postdoctoral fellowship at stanford – this suprised people in the west.
An entire country – probably the 2nd most powerful country in the world – was goin bankrupt. and they did go bankrupt.
It can happen. so we are tackling the same tendencies…
This is a huge challenge to try ot make this transistion and [give] domestic industries a chance to reempower itself and solidify our economy. I think its worth it to take this chance. It’s risky, but i think its justified and i think its an imperative.”
Shelton’s analogy suggests that Trump’s push for economic “liberation” from globalized supply chains and top-heavy regulation mirrors the Soviet Union’s belated effort to escape a failing, state-managed economy.
In both instances, the goal was to decentralize control and rebuild domestic strength—Russia through perestroika and Trump through deregulation and domestic industry revitalization.
However, while Russia’s restructuring came from a position of systemic collapse, Trump’s strategy was framed as preemptive, aiming to stave off stagnation and reinforce economic sovereignty.
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