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! Support the Channel! --A Thank you to Viewers!-------------------------------- I really appreciate all those who watch my content, Thank you for being as interested in these topics as I am! As this is the channels first video, Any and all feedback would be greatly appreciated :) please Like and Subscribe to follow up for more Economics, History, and Geopolitical videos coming soon! --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