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It's nearly 11 p.m., and the 39-year-old Illarionov, an avid proponent of free markets and Russian President Vladimir V. Putin's top economic adviser, is trying to stay awake in the midst of a typical marathon workday. As ever, he's anxious--worried about an economy that's slowing as a rapid currency appreciation squeezes industrial production. Russia needs some kind of jolt. On Apr. 3, hours before Illarionov shared these thoughts, Putin repeated his campaign pledge to push for …

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