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?
Category: economic institutions
An Economic History of Russia: 1985-1991
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 Communist governments of Stalin and Mao were responsible for two of the worst famines in history.
Merchants and Mechanics 