ELI5- How did the Soviet Union collapse?
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(U.S.) Friend of mine was admitted to study the economic system there circa 1985 or so. He described it this way: Factory A would take ball bearings that Factory B produced but for which there was zero demand. Factory A would melt down the ball bearings, send the bricks of converted metal to Factory C which would then “sell” the raw product to Factory B to make . . . more ball bearings for which there was no demand.
It was a truly politicized economy: employment at all costs, all other factors be damned.
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