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Monetary Policy in the Soviet Union - Empirical Analyses of Monetary Aspects of Soviet Economic Development (Hardcover, 1st ed. 2017)
Loot Price: R3,988
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Monetary Policy in the Soviet Union - Empirical Analyses of Monetary Aspects of Soviet Economic Development (Hardcover, 1st ed. 2017)
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This book sheds light on the Soviet economic system, which claimed
the eventual abolition of money, collapsed following a monetary
turmoil. It argues that the cause of the economic collapse was
embedded in the design of the economic system. The Soviet economic
system restricted the market, but continued to use fiat money.
Consequently, it faced the question for which no feasible answer
seemed to exist: how to manage fiat money without data and
information generated by the market? Using Soviet data newly
available from the archives, the book evaluates the performance of
the components of monetary management mechanism, discovers the
continuous accumulation of open and secret government debts, and
quantitatively analyzes the relationship between economic growth
and the money supply to support the argument. The book concludes
that the Soviet economic collapse marked the end of the long
history of Soviet monetary mismanagement.
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