Philip Mackay - Economics Students Society of Australia

Philip Mackay

The USSR and Barter Economy: How Pepsi Once Became the Sixth Largest Military in the World

The USSR and Barter Economy: How Pepsi Once Became the Sixth Largest Military in the World

Part one of this series focused on the structure of the USSR’s centrally planned economy and how that contributed to the Soviet ruble becoming worthless as international currency. After the end of Stalin’s rule, Soviet Premier Nikita Khrushchev implemented a doctrine of ‘de-Stalinisation’ which sought to ease the

A Very Brief History of the USSR’s Economy and the Value of the Ruble

Centrally planned

A Very Brief History of the USSR’s Economy and the Value of the Ruble

On the 24th of February 2022, Russian president Vladimir Putin announced that the Russian military was to conduct a ‘special military operation’ in the Donbass region in Ukraine, bordering Russia. Effectively, war had been declared on Ukraine, following decades of regional tension between the two nations, and broader geopolitical factors