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 Martin Daunton on 31 October 2023 at Barnard's Inn Hall, LondonThe transcript and downloadable versions of the lecture are available from the Gresham College website:https://www.gresham.ac.uk/watch-now/pilgrimages-hollandGresham College has offered free public lectures for over 400 years, thanks to the generosity of our supporters. There are currently over 2,500 lectures free to access. We believe that everyone should have the opportunity to learn from some of the greatest minds. To support Gresham's mission, please consider making a donation: https://gresham.ac.uk/support/Website:  https://gresham.ac.ukTwitter:  https://twitter.com/greshamcollegeFacebook: https://facebook.com/greshamcollegeInstagram: https://instagram.com/greshamcollegeSupport the show