A patron of Economic Update asks: "You often mention the USSR as the fastest growing economy of the 20th century. However, I am often confronted with the latest Maddison Project 2020 data which says something quite different. From that data, it seems Japan is the fastest growing economy of the 20th century and I am not sure the USSR is even performing that extraordinarily. Since I am not in the field of Economics, would you be so kind as to indicate a source for Your claim? What is the time period we are looking at to compare the growth and determine the fastest growing economy? Should I be looking at different data sets altogether? Can we even meaningfully compare the economic performance of socialist and capitalist countries by GDP?" This is Professor Richard Wolff's video response. Submit your own question to be considered for a video response by Prof. Wolff on Patreon: https://www.patreon.com/economicupdat.... Ask Prof Wolff is a @Democracy At Work production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become a part of the growing Patreon community and gain access to exclusive patron-only content, along with the ability to ask Prof. Wolff questions like this one! Your support also helps keep this content free to the public. Spreading Prof. Wolff's message is more important than ever. Help us continue to make this possible. _________________________________________________________________________ Learn more about Prof Wolff's new book, "The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself," available now at www.democracyatwork.info/books “A magnificent source of hope and insight.” Yanis Varoufakis, Greek economist, academic, philosopher, politician, author of Talking to my daughter about the economy. _________________________________________________________________________ Follow Wolff ONLINE: Web: http://www.rdwolff.com Patreon: https://www.patreon.com/economicupdate Twitter: http://twitter.com/profwolff http://twitter.com/democracyatwrk Facebook: http://www.facebook.com/EconomicUpdate http://www.facebook.com/RichardDWolff http://www.facebook.com/DemocracyatWrk Subscribe to the EU podcast: http://economicupdate.libsyn.com Shop our worker CO-OP made MERCH: https://democracy-at-work-shop.myshop
