Question

provide three major economic characteristics of the economic system ushered by the bolshevik revolution.

Answer 1

Russia's Soviet period was characterized by the use of the economy to create national strength, not by economic growth or human development. On the centenary of the Bolshevik Revolution of 1917, this column shows that while education for women and better survival rates for children enhanced opportunities for many people, Soviet Russia was a harsh and unequal world in which to be born, live and grow old

In the meantime a lot happened. The Russian revolution, whose centenary falls on November 7, 2017, has given way to a meltdown in the form of Venezuela. The economy recovered after that, returned to the global mean and stayed above it for several decades. But in retrospect we can see that the Soviet system's purpose was mainly to increase the level of production by continuous mobilization. The underlying productivity growth rate was not high, and the Soviet economy never converged to American expectations.

In the period from 1917 to around 1934, soviet economic institutions were established (Davies 1994). These years were marked by severe political and social tension and many U-turns that varied the potential for organization of the market and preference of consumers. The U-turns lend some credence to the possibility that more than one alternative route may have led the Soviet economy to grow. Still today, after all, there are still 'varieties of communism'-from China and Cuba to North Korea.

Soviet policies have fundamentally modified capital distribution within the domestic economy, repressing consumption to fund manufacturing and military programs. One outcome was a large-scale military industry mobilized for mass armament manufacturing. This network was primarily set out in the 1930s in conventional sections As the Second World War broke out, the Soviet Union rivaled Germany as one of the two largest weapons manufacturers in the world.