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3 - The Largest Historical Event

The End of Soviet Socialism

from Part I - Main Ideas

Published online by Cambridge University Press:  07 August 2021

Martin Paldam
Affiliation:
Aarhus Universitet, Denmark
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Summary

The biggest historical event in the data since 1960 is the end of Soviet Socialism, which was a very large detour of the political-economic system from the general transition path in ten countries. It led to 28 successor states. The Socialist system suffered from poor economic performance, but the triggering event in the USSR is a set of unique, complex, and unforeseen events, and hence a practically exogenous event in the USSR. It became an exogenous external political event in the other 27 countries. The return of the countries to the long-run transition path has a very wide J-curve. The Muslim/Mena-exception is analyzed. The collapse of Soviet Socialism produced a strong zeitgeist effect in the rest of the world, where Socialism went out of fashion.

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Publisher: Cambridge University Press
Print publication year: 2021

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  • The Largest Historical Event
  • Martin Paldam, Aarhus Universitet, Denmark
  • Book: The Grand Pattern of Development and the Transition of Institutions
  • Online publication: 07 August 2021
  • Chapter DOI: https://doi.org/10.1017/9781009025898.005
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  • The Largest Historical Event
  • Martin Paldam, Aarhus Universitet, Denmark
  • Book: The Grand Pattern of Development and the Transition of Institutions
  • Online publication: 07 August 2021
  • Chapter DOI: https://doi.org/10.1017/9781009025898.005
Available formats
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Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • The Largest Historical Event
  • Martin Paldam, Aarhus Universitet, Denmark
  • Book: The Grand Pattern of Development and the Transition of Institutions
  • Online publication: 07 August 2021
  • Chapter DOI: https://doi.org/10.1017/9781009025898.005
Available formats
×