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Merchants and Mechanics

Exploring the History of Economic Growth

Category: economic institutions

An Economic History of Russia: 1953-1985

An Economic History of Russia: 1953-1985

October 4, 2017March 26, 2023 Posted in economic institutions, history of economic growth, political institutions

The years 1953-85 were a test of the efficacy of central planning. It was a test that central planning unequivocally failed. What went wrong?

An Economic History of Russia: 1985-1991

An Economic History of Russia: 1985-1991

October 2, 2017March 21, 2023 Posted in economic institutions, history of economic growth, political institutions

Mikhail Gorbachev introduced market-oriented economic reforms in the late 1980s. They were too little, too late. The Soviet Union collapsed in December 1991.

The Holodomor and Mao’s Famine

The Holodomor and Mao’s Famine

May 5, 2017December 28, 2022 Posted in economic institutions, political institutions

The Communist governments of Stalin and Mao were responsible for two of the worst famines in history.

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