The USSR and Barter Economy: How Pepsi Once Became the Sixth Largest Military in the World
In part two of this series, Phil concludes the discussion on the USSR’s exchange rate with a case study on Pepsi, warships, and comparative advantage.
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A Very Brief History of the USSR’s Economy and the Value of the Ruble
The first article in a two-part series, Phil outlines the economy of the USSR in its early years, examining why the value of the ruble was worthless as international currency.