Leontief, Wassily
January 1960
Foreign Affairs;Jan1960, Vol. 38 Issue 2, p261
Academic Journal
The article presents a discussion on the decline and rise of Soviet Union Economic Science. The Soviet economy has been advancing for years at such a fast and steady pace that Russia is now second only to the United States in terms of total national income; the output of certain of its key industries, such as machine tool building, for example, has even exceeded that of the U.S. By contrast, Soviet economics, that is, Soviet economic science, has remained static and essentially sterile over a period of more than 30 years. The decline of economics in Soviet Russia dates back to the late 1920s, to the time of the inauguration of the original Five Year Plan. The first decade of the Communist regime: the years of civil war and famine and then of economic rehabilitation and primitive accumulation assisted by the partial restoration of private enterprise, was marked by lively economic discussion. It ranged from immediate issues of economic policy to the most general problems of economic theory. In the present worldwide contest between the U.S. and the Soviet Union for the friendship of underdeveloped countries, the reorientation of Soviet economics will probably have an even more immediate effect.


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