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Russian GDP since the end of the Soviet Union (from 2014 are forecasts)

State run enterprises in socialist countries had little or no interest in producing what customers wanted, which resulted in shortages of goods and services.[96] In the early 1990s, the general view was that there was no precedent for moving from socialism to capitalism",[97] and only some elderly people remembered how a market economy worked. As a result, the view that Central, Southeastern and Eastern Europe would stay poor for decades was common.[98]

The collapse of the Soviet Union, and the breakdown of economic ties which followed led to a severe economic crisis and catastrophic fall in the standards of living in the 1990s in post-Soviet states and the former Eastern bloc.[99][100] Even before Russia's financial crisis of 1998, Russia's GDP was half of what it had been in the early 1990s.[101]

There was a temporary fall of output in the official economy and an increase in black market economic activity.[96] In the early 1990s, the general view was that there was no precedent for moving from socialism to capitalism",[97] and only some elderly people remembered how a market economy worked. As a result, the view that Central, Southeastern and Eastern Europe would stay poor for decades was common.[98]

The collapse of the Soviet Union, and the breakdown of economic ties which followed led to a severe economic crisis and catastrophic fall in the standards of living in the 1990s in post-Soviet states and the former Eastern bloc.[99][100] Even before Russia's financial crisis of 1998, Russia's GDP was half of what it had been in the early 1990s.[101]

There was a temporary fall of output in the official economy and an increase in black market economic activity.[96] Countries implemented different reform programs. One example, generally regarded as successful was the "shock therapy" Balcerowicz Plan in Poland. Eventually the official economy began to grow.standards of living in the 1990s in post-Soviet states and the former Eastern bloc.[99][100] Even before Russia's financial crisis of 1998, Russia's GDP was half of what it had been in the early 1990s.[101]

There was a temporary fall of output in the official economy and an increase in black market economic activity.[96] Countries implemented different reform programs. One example, generally regarded as successful was the "shock therapy" Balcerowicz Plan in Poland. Eventually the official economy began to grow.[96]

In a 2007 paper, Oleh Havrylyshyn categorized the speed of reforms in the Soviet Bloc:[97]

The 2004 enlargement of the European Union included the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia. The 2007 enlargement of the European Union included Romania and Bulgaria, and Croatia joined the EU in 2013. The same countries have also become NATO members. In Mongolia, however, the economy was reformed in a similar fashion to the Eastern European counterparts.

Chinese economic liberalization began in 1978 and has helped lift millions of people out of poverty, bringing the poverty rate down from 53% of the population in the Mao era to 12% in 1981. Deng's economic reforms are still being followed by the CPC today, and by 2001 the poverty rate became only 6% of the population.[102]

Economic liberalization in Vietnam was initiated in 1986, following the Chinese example.

Economic liberalization in India was initiated in 1991.

Harvard University Professor Richard B. Freeman has called the effect of reforms "The Great Doubling". He calculated that the size of the global workforce doubled from 1.46 billion workers to 2.93 billion workers.[103][104] An immediate effect was a reduced ratio of capital to labor. In the long-term China, India,

Chinese economic liberalization began in 1978 and has helped lift millions of people out of poverty, bringing the poverty rate down from 53% of the population in the Mao era to 12% in 1981. Deng's economic reforms are still being followed by the CPC today, and by 2001 the poverty rate became only 6% of the population.[102]

Economic liberalization in Vietnam was initiated in 1986, following the Chinese example.

Economic liberalization in India was initiated in 1991.

Harvard University Professor Richard B. Freeman has called the effect of reforms "The Great Doubling". He calculated that the size of the global workforce doubled from 1.46 billion workers to 2.93 billion workers.[103][104] An immediate effect was a reduced ratio of capital to labor. In the long-term China, India, and the former Soviet bloc will save and invest and contribute to the expansion of the world capital stock.[104]

As of 2008, nearly half of Russians viewed Stalin positively, and many supported restoration of his previously dismantled monuments.[105][106]

In 1992, President Yeltsin's government invited Vladimir Bukovsky to serve as an expert to testify at the CPSU trial by Constitutional Court of Russia, where the Communists were suing Yeltsin for banning their party. The respondent's case was that the CPSU itself had been an unconstitutional organization. To prepare for his testimony, Bukovsky requested and was granted access to a large number of documents from Soviet archives (then reorganized into TsKhSD). Using a small handheld scanner and a laptop computer, he managed to secretly scan many documents (some with high security clearance), including KGB reports to the Central Committee, and smuggle the files to the West.[107]

Interpretations

The events caught many by surprise. Predictions of the Soviet Union's impending demise had been often dismissed.[108]

Bartlomiej Kaminski's book The Collapse of State Socialism argued that the state Socialist system has a lethal paradox, saying that "policy actions designed to impro

In 1992, President Yeltsin's government invited Vladimir Bukovsky to serve as an expert to testify at the CPSU trial by Constitutional Court of Russia, where the Communists were suing Yeltsin for banning their party. The respondent's case was that the CPSU itself had been an unconstitutional organization. To prepare for his testimony, Bukovsky requested and was granted access to a large number of documents from Soviet archives (then reorganized into TsKhSD). Using a small handheld scanner and a laptop computer, he managed to secretly scan many documents (some with high security clearance), including KGB reports to the Central Committee, and smuggle the files to the West.[107]

The events caught many by surprise. Predictions of the Soviet Union's impending demise had been often dismissed.[108]

Bartlomiej Kaminski's book The Collapse of State Socialism argued that the state Socialist system has a lethal paradox, saying that "policy actions designed to improve performance only accelerate its decay".[109]

By the end of 1989