Econ Test 2 Part 5b

  1. 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
  2. Why did growth slow down over time? 
    because almost all the growth was "extensive" growth, rather than "intensive"
  3. Extensive Growth
    produce more by mobilizing more and more resources
  4. Intesnsive Growth
    • produce more by increasing resource productivity
    • get every worker to make more / hour
  5. 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
  6. Actual Soviet tech conditions
    • inflexible plans
    • focus on early achievements (deadlines were too strict)
    • centralization
  7. Transition Problems
    • chaos and depression
    • hyperinflation
    • human suffering
    • financial crisis
  8. Transition Achievements
    • democratic elections
    • demilitarization
    • price stabilization
    • SOE's were pricitized
    • capitalist businesses started growing
Card Set
Econ Test 2 Part 5b
Econ Test 2 Part 5b