Econ Test 2 Part 5b

Accomplishments of USSR
- persistant economic growth made USSR a super power
- transormed into an industrialized economy
- strong laber force (near 100% literacy, highly educated)
- higher standard of living
Why did growth slow down over time?

because almost all the growth was "extensive" growth, rather than "intensive"
Extensive Growth

produce more by mobilizing more and more resources
Intesnsive Growth
- produce more by increasing resource productivity
- get every worker to make more / hour
Conditions for tech advancement
- flexibility: can shift around resources between experiments
- adequate time: new scientific ideas don't occure on schedule
- researcher autonomy: freedom to try something new
- free exchange of info: build on eachother's ideas
Actual Soviet tech conditions
- inflexible plans
- focus on early achievements (deadlines were too strict)
- centralization
Transition Problems
- chaos and depression
- hyperinflation
- human suffering
- financial crisis
Transition Achievements
- democratic elections
- demilitarization
- price stabilization
- SOE's were pricitized
- capitalist businesses started growing

Author

kyle.coughlin

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Card Set

Econ Test 2 Part 5b

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Econ Test 2 Part 5b

Updated

2012-11-11T23:34:48Z

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