Comparing Clinton regime to Hitler regime

Brad De Long delong at econ.Berkeley.EDU
Tue Jun 8 08:10:58 PDT 1999



>Charles: In the larger historical picture the Russian Revolution of 1917
>and following most rapid economic development in the history of industrial
>civilization...

Ummm...

No.

Let's take the 1913-1973 period that ends just as Soviet economic growth effectively ceases, and for which Angus Maddison has constructed reasonable estimates of economic growth (although note that I consider his estimates of growth in the Soviet Union and its dependencies too high: not enough adjustment for the low quality of most produced consumer goods). We find that national product per capita grew at (according to Maddison):

Japan... 3.52% per year Finland... 2.76% per year USSR... 2.34% per year

Stalinist industrialization achieved great things in heavy industry. But the price in foregone agricultural, consumer goods, transportation, communications infrastructure, and service sector economic performance was very high. And the net balance sheet from an *economic* point of view was not that impressive--less impressive than the overall economic performance of a Japan, or a Finland, or a Greece, or a Spain from 1913-1973.

On the other hand, Stalinist industrialization meant that when the Nazis rolled across the border the T-34 assembly lines were ready for them...

On the third hand, a Soviet Union less interested in destroying German "social fascism" before 1933 would have had less need for the T-34 assembly lines...

Brad DeLong



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