Yegor Gaidar, the first post-Soviet prime minister of Russia and one of the principal architects of its historic transformation to a market economy, here presents his lively account of governing in the tumultuous early 1990s. Though still in his forties, Gaidar has already played a pivotal role in contemporary Russian political history, championing the cause of dramatic economic reform, aggressive privatization of state enterprises, and painful fiscal discipline in the face of widespread popular resistance.

Gaidar's youthfulness, energy, and daring are symbolic of a new phenomenon in...