The Soviet Union was competing head to head with market economies in the generation of new technologies, not only in traditional industries such as steelmaking, electricity, and machineries, but also in high tech-areas such as synthetic materials and microelectronics. Yet its productivity...

The decade of 1970s is generally known for its dramatic increases in the price of oil. What is less known, however, is the fact that U.S. industrial sector experienced a significant slow down in productivity growth during the 1970s and 1980s. While many studies have analyzed the economic impact...