Michael Calvey

The arrest of mega-investor Michael Calvey in Moscow once again shocked the world of business. Why are people so surprised, asks Andrey Movchan of Carnegie Center Moscow. After the lawlessness of the mid-1990s, many hoped that a system of laws and rules to protect business (and everyone else) from arbitrariness would emerge. No way: the interest group that is furthest from honest business and society won the battle and made arbitrariness the guarantee of its position.