Soviet Style Economics Was Insane and Here’s Why

The Soviet Union's Economy was once the envy of the world, But as rapidly as it arose the Soviet Union collapsed as a result of its crumbling Economy. but why?

While the rest of the world struggled during the great depression, The Soviet Union was quickly and rapidly industrializing under Stalin's command, but locked within the foundations of the country lie an unavoidable time bomb. In this video we travel all the way back to the 14th century to understand the fundamental forces and conditions that caused Communism to arise in Russia in the first place. Then we follow the economic story and evolution from the Russian empire to the fall of the Soviet Union.

-Contents of this video-------------------------------
00:00 - 1920's Global Economic Boom
00:50 - Great Depression
01:19 - The Soviet Economy Stands Alone
02:45 - The Roots of Economic Divergence
04:09 - The Black Death
06:40 - East Vs West European Economic History
07:55 - Industrial Revolution in the West
08:47 - The Russian Empire's Economy
11:55 - The Soviet Economy's Beginnings
13:42 - Soviet Industrialization - Stalin's 5 year plans
16:22 - Problems with Soviet Economy
21:00 - Cause of Soviet Union's Collapse
25:11 - Thanks for Watching!

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-A Thank you to Viewers!-------------------------------
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-Sources----------------------------------------------------
(Books)

-The Rise and Fall of the The Soviet Economy: An Economic History of the USSR from 1945

-Why Nations Fail: The Origins of Power, Prosperity, and Poverty

(Scholarly Articles)

-Economics in the Former Soviet Union -The Journal of Economic Perspectives
Vol. 6, No. 2

-Soviet Economic Growth: 1928-1985 - Journal of Economic Literature
Vol. 25, No. 4

-The Soviet Economy, 1917–1991: Its Life and Afterlife - Vol. 22, No. 2





#EconomyExplained #Economics #SovietEconomy