Capitalist and Communist economies – episode 8 in itshistorypodcasts.com’s Cold War series is out now..
We look at the key trends in the capitalist and Communist economies up to the 1980s and set the scene for what was to happen in the final years of the Cold War.
Economic growth was key to the battle between the super-powers – more growth meant that they could spend more on the military in a sustainable way. But, military spending had to be traded-off against allowing people in these countries to have improved living standards. It would be the country that could keep their public happy and spend significant amounts on defence that would be in a much stronger position to win the Cold War...
Enjoy the podcast!