Read this article
- Access statistics
- 5,986 article downloads
- 8,391 complete issue downloads
- Total: 14,377
This is our reply to Brendan Beare’s comment on our paper. While we find his criticism to be both valid and helpful, a modified version of our original model still confirms that a low elasticity of substitution between capital and labor doomed the Soviet strategy of extensive growth through capital accumulation.
This article is a response to The Soviet Economic Decline Revisited by Brendan K. Beare (EJW, May 2008).