chapter  7
11 Pages

Summary Observations and Reflections

ByHolland Hunter

This chapter offers some reflections on the resulting overall outlook and some tentative evaluation of a range of possible developments. Massive increments of fixed capital plant and equipment have been a central feature of Soviet growth since 1928. Soviet output growth is constrained by limited prospects in foreign trade. The relation of the part of the Soviet economy to economic reform issues is itself quite complex. There is very little, of course that the outside world can do to influence the evolution of Soviet affairs. The composition of Soviet output flows over the last half century has led in cumulative fashion to another notable feature of the present Soviet economy: large deficiencies in the stock of residential capital, urban social overhead capital, and the facilities required to supply public and private social services. The chapter also presents some closing thoughts on the key concepts discussed in the preceding chapters of this book.