Economic system of developed socialism: Experience and lessons

The paper deals with the analysis of economic performance and economic policy of the USSR at the stage of “developed socialism”, fundamentals and characteristics of the Soviet economic model and mechanisms of its emerging crisis. Special attention is paid to the developed socialism phenomenon of Dutch disease and its influence on economic and political trends. Analysis has been done through the prism of the experience of the last 50 years of Russian economic development. Conclusions are drawn about the lessons learned by modern Russia from the experience of the 1970s.