Loss of political legitimacy

Loss of political legitimacy


In that the Soviet Union based its continued existence on capital accumulation no less than private enterprise economies, it has been suggested by some that such a political entity would be better designated 'state capitalist' rather than socialist or communist. The ease with which many former Soviet leaders in city and countryside have assumed the mantle of capitalist entrepreneurs would appear to support such a claim. [For further analysis, see: Stephen Resnick and Richard Wolf, State Capitalism in the USSR? (1992); and Between State and Private Capitalism. What was Soviet "Socialism?" Department of Economics, University of Massachusetts, Amherst (1993)].