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An economic theory of the Soviet system

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  • Menuet, Maxime
  • Parent, Antoine

Abstract

The sudden collapse of the Soviet regime is one of the most enigmatic historical events explored in the social sciences. In this paper, we propose a macrodynamic theory of the Soviet economy that provides theoretical foundations for understanding its collapse. Our model features three actors: workers (the people) who can revolt, natchalnik (the supervisor of firms) who controls a defense-industry firm, and the apparatchik (a member of the communist party and administration) who both extracts production for personal uses and acts as a central planner. We analyze the conditions for the Soviet regime’s sustainability or collapse. Our theory identifies three channels leading to the collapse: internal contradictions within the elite, conflicts between the workforce and the administrative-command structure, and corruption among the elite.

Suggested Citation

  • Menuet, Maxime & Parent, Antoine, 2025. "An economic theory of the Soviet system," Journal of Mathematical Economics, Elsevier, vol. 118(C).
    • Handle: RePEc:eee:mateco:v:118:y:2025:i:c:s0304406825000321
    DOI: 10.1016/j.jmateco.2025.103115
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