Mikhail Gorbachev introduced market-oriented economic reforms in the late 1980s. They were too little, too late. The Soviet Union collapsed in December 1991.
Category: economic institutions
The Holodomor and Mao’s Famine
The Communist governments of Stalin and Mao were responsible for two of the worst famines in history.
An Economic History of South Korea
Korea’s postwar development relied on an industrial policy that favoured some sectors over others and some firms over others.
Merchants and Mechanics 