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The Soviet Union is one of the most historically significant economies to understand, not only because it was the home to some of the most controversial economic practices ever, not only because it was a nation that altered world politics for the latter half of the entire twentieth century, or because it was home to one of the largest and most rapid economic declines in modern history, no no, all of that stuff is important and we will explore it, but more important than all of that is that even today, almost 30 years after the fall of the soviet union, the lessons of the nation and its economy are having lasting implications on the world today.


📚 Want to learn more about the Soviet Union? We recommend reading “The Last Empire: The Final Days of the Soviet Union”, by Serhii Plokhy 👉 (as an Amazon Associate, we earn from qualifying purchases)

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Sources & Citations –

Nove, A., 1986. The Soviet economic system (pp. 49-74). Boston: Allen & Unwin.

Sampson, S.L., 1987. The second economy of the Soviet Union and Eastern Europe. The Annals of the American Academy of Political and Social Science, 493

Myant, M. and Drahokoupil, J., 2010. Political Economy of Russia, Eastern Europe and Central Asia. Hoboken, NY: Wiley and Blackwell.

Williamson, J., 1994. The political economy of policy reform. Peterson Institute.

Markusen, A., 1992. Dismantling the cold war economy. World Policy Journal

Murphy, K.M., Shleifer, A. and Vishny, R.W., 1992. The transition to a market economy: Pitfalls of partial reform. The Quarterly Journal of Economics

Hanson, P., 2014. The Rise and Fall of the The Soviet Economy: An Economic History of the USSR 1945-1991. Routledge.


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