Markets and Marxism: USA, USSR and China

Different models of economic modernity competed during the Cold War. Washington feared that the transition from colonial peasant societies would provide an opening for Marxists, as in Vietnam. But by 1989, the Soviet economic model was in crisis and attempts to create a market economy led to Putin’s kleptocracy. In China, the disaster of Mao’s Great Leap Forward was followed by successful transformation. Why did the Soviet Union fail where China succeeded? This lecture was recorded by Mart...