New Books In Economics

One of the most interesting questions of modern history is this: Why is it that Communist China was able to make a successful transition to economic modernity (and with it prosperity) while the Communist Soviet Union was not? In his excellent book The Struggle to Save the Soviet Economy: Mikhail Gorbachev and the Collapse of the USSR (UNC Press, 2016), Chris Miller offers a convincing explanation for the divergent paths of these two Marxist-Leninist powers. Miller shows that Mikhail Gorbachev knew well about the on-going Chinese experiment, and he modeled much of what he attempted to do on it. Yet, as Miller argues, Gorbachev faced much stiffer political and ideological opposition than the Chinese leader, Deng Xiaoping, did. In the USSR, the Party was stronger and there were powerful institutional-economic interests standing in his way. In addition, Soviet socialism had “worked” for masses of ordinary citizens in a way that Chinese socialism had not; many “Soviet people” believed in th