P/H/55. Historical causes and consequences of Soviet industrialisation policy

The paper examines the causes and consequences of centrally planned industrialisation policy in the Soviet Union reviewing the countrys history over 1920s Ï 1930s up to the beginning of the Second World War. Economic and political frameworks of Bolshevism, Socialism and Marxist-Leninism are reviewed including the so-called New Economic Policy (NEP), NEPs incompatibility with the ruling ideology of the period, the success of the first 5-year plans, etc. Advantages and disadvantages of the centrally planned economy are outlined.