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POLI 211 (23)
Lecture

Soviet Union.rtf

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Department
Political Science
Course
POLI 211
Professor
Fillippo Sabetti
Semester
Fall

Description
Soviet union: - centralized system - state owns means of production - no private property - no privately own industries - aiming to achieve economic parity of the west via industrialization and mechanization of agriculture and employment of technology - centrally planned economy - targets: quotas of how much they wanted to produce, problems with corruption - there were constant shortages - soft vs. hard budget constraints: - hard: if you cannot cover your costs and are not making a profit your business will fail - soft: if you cannot cover your costs the government will bail you out - when the us decided to bail out the auto i
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