Write a 500 to 750 word paper in APA format responding to the following questions:
1.How would you classify the Soviet economy prior to the break-up of the Soviet Union? Explain your rationale.
2.Why did the Soviet economy fail?
3.How would you classify the Russian economy as it is currently?
4.Is it still a transitional economy, how so?
An Autopsy of the Soviet Economy
by Gordon M. Hahn
https://www.hoover.org/
Answer preview
Before, break up, the Soviet Union experienced a lower labor shortage. The Union experienced a shortage of employees, which hampered with its economic growth. In specific, over five million jobs remained unfilled, whereas the Soviets had a population of approximately 270 million people. Secondly, it comprised of low tech, which reduced its productivity. Soviet industrial and agricultural sectors applied low tech approaches. This situation was led by contained placed by the government on research and development. According to Hahn (1998), the rigid education system assigned personnel to specific jobs reducing the number of engineers. Therefore, the Soviet Union’s economic system was ineffective and comprised of a high level of inefficiencies.
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