Accounts of the Great Depression (1929 to the late 1930s) usually use terms such as ‘worldwide’ and ‘global’. Trade declined by 50%, heavy industry came to a virtual standstill, unemployment went as high as 33% and so on. Obviously, for such accounts the USSR was not part of the ‘world’ and ‘globe’ at the time. The first and second five-year plans had an extraordinary effect, industrialising a ‘backward’ economy in a way that makes every other industrial revolution pale by comparison. Agriculture was mechanised and collectivised, and output, employment, and standard of living grew by staggering proportions. While many at the time prophesied the imminent economic collapse of the Soviet Union – ‘mediaeval fossils to whom facts mean nothing’ (Stalin) – others were willing to give honour where honour was due. For example, the English capitalist, Gibson Jarvie, president of the United Dominion Trust, wrote in 1932:
Now I want it clearly understood that I am neither Communist nor Bolshevist, I am definitely a capitalist and an individualist …. Russia is forging ahead while all too many of our factories and shipyards lie idle and approximately 3,000,000 of our people despairingly seek work. Jokes have been made about the five-year plan, and its failure has been predicted. You can take it as beyond question, that under the five-year plan much more has been accomplished than was ever really anticipated. … In all these industrial towns which I visited, a new city is growing up, a city on a definite plan with wide streets in the process of being beautified by trees and grass plots, houses of the most modern type, schools, hospitals, workers’ clubs and the inevitable crèche or nursery, where the children of working mothers are cared for. … Don’t underrate the Russians or their plans and don’t make the mistake of believing that the Soviet Government must crash. … Russia today is a country with a soul and an ideal. Russia is a country of amazing activity. I believe that the Russian objective is sound. … And perhaps most important of all, all these youngsters and these workers in Russia have one thing which is too sadly lacking in the capitalist
countries today, and that is—hope!
Talk about unleashing the forces of production! Obviously, the USSR did not experience the Great Depression. All of which leads me to ponder whether there was not a connection between that Depression and the huge and disruptive processes underway in the Soviet Union. Such a massive shift in a place like the USSR was bound to have an effect globally.