Writing in 1971, economist Dr. John P. Hardt assessed the trajectory of the Soviet economy arguing the need for reform and evaluating the willingness of key actors in the Soviet bureaucracy to support such policies. Fifty years later, Hardt was remarkably prescient with regard to structural difficulties such reform posed and the costs of delay. The pervasive role of internal and external security concerns in the following decades, however, resulted in economic decisions that defied traditional economic analysis. Click here to read the article.
Released 25 March 2021.