The Tragic Fall of Soviet Oil

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Music by Epidemic Sound
Stock Footage by Storyblocks
#Russia #Finance #Doverhill
about economics explained, about Finance and how money works, on the collapse of the Soviet oil industry and the Soviet Union, This is an economics/finance video

Пікірлер: 19

@aBRUSHforCONFUCIUS 8 ай бұрын

There are so many inaccuracies in this video. The Soviet Planned economy was a basket case from the beginning. It almost always imported grain, even though today Russia is a major exporter. From shortages, which drove massive corruption, to terrible cars and trucks, to one failed, money hole project after another. Then there was the massive graft of projects and theft by everyone, because the system could not supply many common goods. The products which were supplied were often very inferior. People continuously had to wait on line for hours to by few food items. The whole system was notoriously inefficient. This was all well known during the days if the USSR. Then there wete all the leaders and their fruends who all lived like kings. They had no shortages and the best from around the world. While many people in the cities lived in tiny, poorly, heated apartments or several families in one apartment. In the countryside most people had no indoor plumbing, which means not hotwater or toilet. This why these commie countries always tried to have the best Olympic teams. They could not do much very well, unless they threw massive amounts of money at it. The only reason the USSR lasted so long, was its trade of oil and minerals. Don't be a shill for commies and their bullsh;t system. It killed millions of people through repression, intentional startvation and murder. The whole system was the butt of many jokes in the West.

@sniperboom1202 8 ай бұрын

Decils advocate: The Oil boom of the 70's could have fueled the soviets for a good while if they had diversified and expanded civilian sectors and increased commodity goods they might have been able to stave off collapse for another couple decades. The big thing with the collapse, the Soviet Union from what I've studied of history is the people losing faith in the system because of all the corruption. (That's not an excuse for the massacres and genocides of the Soviet Union committed. By the way, it's just double sat the kid on the side of economics)

@cravkit9240 2 ай бұрын

Most of the people in the soviet union want it to stay, and i love how you say so comfartably that the "commies" killed millions of people as of capitalism didnt kill 10 million people a year

@MrLandL0rD1 27 күн бұрын

Now tell us what capitalism did to africa india and china..smh

@timonurcikan8196 24 күн бұрын

Which country ever build housing for 207 milion people in 28 years ??

@timonurcikan8196 24 күн бұрын

And soviet economy was second biggest in the world for 40 years ☝️

@lns_life3376 5 ай бұрын

great video! Is it possible to get the sources you used? 🙏 (for academic referncing)

@theuncomfortabletruth3928 7 ай бұрын

Excellent video! I, too, believe that overdependence on oil was what primarily caused the death of the USSR, not some faulty mechanics within the system. That socialism works has been proven time and time again.

@theuncomfortabletruth3928 7 ай бұрын

So to avoid the end of the USSR, they just had to get rid of their Oil overdependence, for example through expanding and diversifying exports, not rellying so much on Oil to get money, and diversifying domestic consumption using more coal, natural gas, or renewable energy, like the west began to do. They could have used another resources to keep the COMECON countries tied to their economy, not just Oil and Gas.

@rockstar450 4 ай бұрын

Or... use capitalism that actually works and can survive a downturn without creating dictators and starvation

@theuncomfortabletruth3928 4 ай бұрын

@@rockstar450 Socialism creates neither dictators nor starvation. That's capitalism you are talking about. Poverty doubled in the USSR and ex socialist countries once they abandoned socialism.

@rockstar450 4 ай бұрын

@theuncomfortabletruth3928 wtf are you talking about? Socialism is what destroyed Russia which is still only kept afloat by steeling innovation (from capitalist counties) and oil reserves which allow it to get away with an ineffective market. Social programs like education and healthcare are everywhere in capitalist countries like Australia and in Scandinavia. Socialism has killed millions and capitalism has raised the standard of living faster than anything else. You're obsessed with the top 1% ignoring the 99% who are way richer.