Question

How did the USSR escaped the great depression? ​

Answer 1

Answer:

Explanation:

Accounts of the Great Depression (1929 to the late 1930s) usually use terms such as ‘worldwide’ and ‘global’. Trade declined by 50%, heavy industry came to a virtual standstill, unemployment went as high as 33% and so on. Obviously, for such accounts the USSR was not part of the ‘world’ and ‘globe’ at the time. The first and second five-year plans had an extraordinary effect, industrialising a ‘backward’ economy in a way that makes every other industrial revolution pale by comparison. Agriculture was mechanised and collectivised, and output, employment, and standard of living grew by staggering proportions. While many at the time prophesied the imminent economic collapse of the Soviet Union – ‘mediaeval fossils to whom facts mean nothing’ (Stalin) – others were willing to give honour where honour was due. For example, the English capitalist, Gibson Jarvie, president of the United Dominion Trust, wrote in 1932:

Answer 2

Answer:

The Great Depression affected the industrialized powers at different times and in different ways. Some suffered steep, others small, production declines; some recovered slowly, others more quickly. Despite these differences, no major industrialized market economy escaped significant economic losses from the Great Depression/Slump of the 1920s and 1930s. Other studies in this collection examine the experiences during the Great Depression of economies that belonged to the global trading and monetary systems, trying to isolate its causes — monetary, exchange rate, trade restrictions, technology shocks, and so on. The Soviet Union represents the sole example of a planned socialist economy, bent no less on autarky. Having created an administrative-command system designed to insulate the domestic economy from demand and external shocks and independent of international capital flows, the Soviet economy experienced rapid economic growth and industrial transformation during the very period when other economies were stagnating. Moreover, the Soviet Union was the sole case of a country that followed a deliberate development strategy, executed by administrative actions rather than markets, to oversee its rapid industrialization. It was this exceptional Soviet experience that lent it much of its appeal in the 1950s and 1960s in Western Europe and more so in Africa, Asia, and Latin America.