Question

Economic developments in the soviet union between 1917 and 1991

Answer 1

ECONOMIC GROWTH, SOVIET
During the first decade of Soviet rule and up to 1929, the Soviet economy struggled to recover from the damages of World War I, the Revolution, and the civil war, and then to find its way through policy zigzags of the young and inexperienced Soviet leadership. It is commonly accepted that during this decade of the 1920s the Soviet economy more or less managed to regain the level of national product of 1913, the last prewar year. In 1929 the Soviet Union embarked upon a strategy of rapid economic growth focused mainly on industrialization. The main institutional instrument used in order to implement growth was the Five-Year Plan, the key economic tool of the centrally planned system.

The record of Soviet growth since 1928 and the main factors that contributed to it are presented in Table 1. The data reflect mostly Western estimates, based partly on Soviet official data following adjustments to conform to Western definitions and methodology as well as to accuracy. One major methodological difference related to the national product was that, following Marxist teaching, the concept of Net National Product (NNP), the main Soviet aggregate measure for national income, did not include the value of most services, considered nonproductive


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