The Industrialisation of Soviet Russia Volume 4: Crisis and Progress in the Soviet Economy, 1931-1933

The profound economic crisis of 1931-33 undermined the process of industrialisation and the stability of the regime. In spite of feverish efforts to achieve the over ambitious first five-year plan, the great industrial projects lagged far behind schedule. These were years of inflation, economic disorder and of terrible famine in 1933. In response to the crisis, policies and systems changed significantly. Greater realism prevailed: more moderate plans, reduced investment, strict monetary con...