Part 9/10:
The collapse of the Soviet economy was ultimately predetermined by the very structures that sought to protect its elites. The initial successes of the Soviet system masked the underlying issues that would eviscerate its foundation. Mikhail Gorbachev’s attempts at reform in the 1980s arrived too late, as the system was already fracturing. By loosening political controls, Gorbachev inadvertently hastened the dissolution of the Soviet Union, which formally ended in 1991.
The story of the Soviet economy illustrates a cautionary lesson about the dangers of authoritarian governance and extractive economic systems. Although it provided a narrative of rapid industrial growth and military prowess, it simultaneously reinforced the structures of tyranny that led to its ultimate demise.