An Outline of the Economic Problems in the History of the Soviet Union

The eventual downfall of the USSR has often been seen as a self-evident example of the failure of central planning, both as a principle and especially in practice. The critics of the USSR also point to the low standard of living of the population during its existence, the prevalence of famines, the low availability and shoddy quality of consumer goods, and its continued lagging behind the United States in production as more proofs of the failure of ‘socialist construction’. Although these criticisms are not entirely without merit, they need to be contextualized and qualified strongly to be properly understood. It is therefore important to provide a rough outline of the economic history of the collapse of the USSR and its meaning. Because the focus of this article is on the economic problematic, more detail than is usual will be presented about these issues, whereas some political, cultural and social developments of importance will be largely avoided. Continue reading “An Outline of the Economic Problems in the History of the Soviet Union”