Inflation in the Economy of the USSR: Nature, Cyclical Trends, Lessons for Modern Russia

Abstract

This article analyzes conditions of emergence and some characteristics of inflationary processes in the economy of the USSR. Based on the empirical analysis, circular dynamics of infl ation in the Soviet economy is revealed. Comparative studies of inflationary regimes in the Soviet economy and in the modern Russian economy are carried out. It is shown that the current infl ation in Russia and its cyclic evolution is the natural consequence of inflation processes in the USSR, as well as of inertia of the main governance institutions which repeat the economic policy mistakes of the Soviet era.

Keywords:

inflation, cycles, economic policy, economy models, power, money circulation, bureaucracy, economic structure, imbalance, plan, market