Economy and Society Flashcards
What was the average growth rate in Reutern’s Free Trade Era under Alexander II?
6% between 1862 and 1878
What foreign investors and experts were brought in to develop Russian industry?
The Nobel Brothers, Ludwig Loop, and JJ Hughes
How was foreign capital secured?
Through government bonds, tax exemptions and monopoly concessions
What did Bunge do to railway as finance minister for Alexander III?
He moved the railway to 69% national ownership
What did Vyshnegradskii do as finance minister under Alexander III?
He managed to balance the budget but was blamed for the famine of 1891 which left 350,000 dead as a result of the Medele’ev Tariff protecting Russian industry in return for exporting grain during a food shortage
When was Russia put on the Gold Standard and by who?
It was put on the Gold Standard under Witte in 1897
What happened during Witte’s Great Spurt?
Coal production doubled, iron and steel increased sevenfold and production went up 7.5% per year. New technologies such as oil and chemical industries developed
What were some shortcomings of the great spurt?
Railway increases were still dwarfed by the West (by 1914 Russia had eleven times fewer miles track than Germany) and the reliance on foreign loans and expertise stunted Russian entrepreneurial growth
What happened to Russian growth after the 1905 revolution?
Stolypin had Russian growth increasing by around 3.5% again but production was still 10% lower than Britain
What happened to Russian industry during the First World War?
The rouble fell off the Gold Standard, taxes increased, the price of fuel and off quadrupled in the first two years of the conflict and inflation rose to 300%
What did Lenin create to run industry?
He created ‘State Capitalism’ and they were nationalised under the Supreme Economic Council
What happened during War Communism?
It led to the complete militarisation of labour and takeover of all industry and grain requisitioning
What happened to industry as a result of the Civil War?
It led to halving of production, the collapse of the rouble to 1% of its worth in 1917 and the payment of workers ‘in kind’ rather than in currency, with the production of coal falling from 29 million tons in 1913 to 8.9 million tons in 1921
What happened under the NEP?
Heavy industry was still under State control, however small crafts flourished and 60% of trade was done by a new entrepreneurial class of NEPmen
What was a consequence of the Scissors Crisis?
It ended the NEP as high industrial prices were not matched by low agricultural prices, and as farmers refused to lower their prices further, it allowed Stalin to blame Kulaks for economic problems and begin the ‘Great Turn’
How did Stalin attempt to achieve economic autarky?
Through the Five Year Plans, although the plans outlined by GOSPLAN were just vague targets with little guidance on how to deliver them
What were the figures under the Five Year Plans?
There was a tenfold increase in electricity production and the develop new industries in plastics and synthetics
How did Khrushchev diversify industry?
He added nuclear technology, but still stuck to Stalinist planning