Soviet Economic Collapse

Gideon Fairchild

Translator A AI

Summary

Soviet Economic Collapse examines the economic factors leading to the USSR's unexpected downfall. It argues that the Soviet Union's centrally planned economy, while initially successful in industrializing and achieving military parity, ultimately failed due to its structural inability to adapt, incentivize innovation, and efficiently allocate resources. 

 
One critical insight is that the chronic misallocation of resources led to widespread shortages and surpluses. Another is the crippling effect of excessive military spending, which diverted resources from civilian production and technological advancement. 

 
The book explores the Soviet economic system's historical context, tracing its roots from the Russian Revolution through periods of rapid industrialization and Cold War competition. It then meticulously examines the inherent inefficiencies of central planning, the burden of military spending, and the failure of Gorbachev's perestroika reforms. 

 
Ultimately, the book assesses the long-term consequences of the Soviet collapse on former Soviet republics and the global balance of power. It offers a balanced perspective by acknowledging the achievements alongside the fatal flaws, making complex economic concepts accessible to a broad audience interested in economic history and the challenges of authoritarian regimes.

Available since: 02/27/2025.

Print length: 60 pages.

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