More than 20 years after the collapse of the Soviet Union, plenty of problems plague the Russian economy. Carthage College economics professor Yuri Maltsev detailed some of those problems during a presentation today to the John Locke Foundation’s Shaftesbury Society.

Maltsev was a top economics adviser to Soviet leader Mikhail Gorbachev before defecting to the United States in 1989. In the video clip below, Maltsev describes pros and cons of the Russian economy in 2013.

3:05 p.m. update: Click play below to watch the full 55:07 event.

You’ll find other John Locke Foundation video presentations here.