Markets and Marxism: USA, USSR and China

11/08/23 • 59 min

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, London
The transcript and downloadable versions of the lecture are available from the Gresham College website:
https://www.gresham.ac.uk/watch-now/pilgrimages-holland
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11/08/23 • 59 min

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Gresham College Lectures - Markets and Marxism: USA, USSR and China

Transcript

00:00:04.705

In 1989, there were two major events which shaped the modern world.

00:00:10.464

The first was the brutal suppression of protests in Tran Square on the 4th of June, 1989, and the reassertion of the authority of the Chinese Communist Party, Don Jing embarked on economic reform before the this, uh, event, but the party would remain in control to manage the transition to an economy with market features.

00:00:37.354

Dunk called it so

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