Lecture 20 - Economies - Poly Sci Lecture 20 Political...

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Poly Sci Lecture 20 - Political Economy - Russia: Economic Transition - Soviet Economic System - Three Types of Political Economy - Soviet Union to Russia: Transition from Command to Mixed Market Economy - State Intervention - Economic Policy Tools Political Economy - The combination/intersection of politics and economics - Politics Economy: o The decisions made in the political syste3m have significant repercussions for the economy o The economic order depends on the provision of a stable political system within which it can operate - Economy Politics o The actions of major economic actors and the performance of the economic system have a major impact on politics o The political order depends on the economic system to generate income, goods, and services Russia: Economic Transition - Collapse of Soviet System = sea change o Traditionally strong role of state reduced o Opening up for Russian economy to outside forces - Process of market reform after 1991: o Dramatic decline in economic performance o 1991-1998: Unprecedented period of depression o Economic hardship for majority of population o Russian government struggled to find instruments to successfully regulate market forces o After 1999: some relief from economic upturn Soviet Economic System - Land, factories, all important economic assets belonged to state - Low productivity and efficiency, little innovation - Prices controlled by state
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- Shortage of consumer goods - No link to international economy - Upsides: rapid industrialization, provision of social welfare and mass education, relatively low levels of inequality, advances in key industries (e.g. military, space) Three Types of Political Economy
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This note was uploaded on 04/05/2008 for the course POLI SCI 106 taught by Professor Hererra during the Fall '08 term at University of Wisconsin.

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Lecture 20 - Economies - Poly Sci Lecture 20 Political...

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