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They were slowly decaying like Cuba is doing now. Same for East Germany. There wasn’t much growth going on. Stability only in the sense of stagnation.
by maxxxxx 8y ago
They were slowly decaying like Cuba is doing now. Same for East Germany. There wasn’t much growth going on. Stability only in the sense of stagnation.
- 49531 8y agoInfinite growth isn't necessarily the best way to measure success unless you're an investor. When we frame the world in that way a lot of "good" economies are harsh to live under, and "decaying" economies aren't bad from a quality of life standpoint.
- maxxxxx 8y agoDecaying economies are bad if they don't maintain their equipment and live off what previous generations created. You could see that in East Germany. They created a lot of stuff in the 50s and 60s and then they kept using that equipment until it fell apart. Same for buildings.You can do that for a while but eventually things will fall apart. You could argue that public infrastructure in the US is following the same path to some degree.
- magduf 8y agoThe Soviet-era economies were generally horrible to live under from everything I've read and heard, even from people who actually lived under them. Did you? There's a reason they wouldn't let people leave East Germany, and actually shot them if they tried, and why those people risked their lives regardless to get out, and also why almost no one from the West ever tried to "escape" to Soviet-bloc countries.
- jtolmar 8y agoCuba is doing better than most other Caribbean countries despite an embargo by one of the biggest economies in the world.