The following text is an attempt at an analysis of the passages from Victor Pelevin’s novels which are about a difficult and peculiar development of the Russian economy after the fall of the USSR. Pelevin describes the economic changes employing typical tools of this tendency, i.e. literary deconstruction, critical irony and intertextual allusions, in order to explore the modern culture. A peculiar represented world is created with their help. On the one hand, it contains a considerable amount of realism, achieved through a description of events and historical processes, sociological phenomena and related changes in the individual and collective psyche. On the other hand, fictional elements, such as incredible or mythical characters, who act in a nonsensical or comical manner, as well as almost alchemical financial processes, have a strong presence. The writer’s theories explaining the absurdity and the unpredictability of the Russian economy are so fantastic that his way of describing it has been called magical economy.