The Record of Soviet Economic Growth, 1928-1965

A detailed analysis of measures of Soviet economic growth, with many alternative calculation methods. Six indexes of national product are synthesized from economic sector indexes (using 1937 and 1955 weightings for 3 different formulations). Results are compared with those from other sources. The indexes show that the USSR growth rate declined markedly throughout all segments of the economy, except services, within 1950-1965. Except perhaps in agriculture, the decline appears to be according to plan. During those years the growth rates for national product, national product per capita, and agriculture were essentially the same as U.S. rates for 1962-1965. Otherwise, Soviet economic growth rates for the years 1928-1940 and 1950-1965 are substantially higher than U.S. rates. The postwar increase in per capita consumption greatly exceeds the U.S. rate, but the level of consumption is less than half of the U.S. level. For the United States, national product and per capita consumption increase at the same rate.