Suppress
personal consumption
Exceedingly
low discount rate
–>High
rates of savings
Structural
disequilibrium between producer and consumer goods
OVERALL:
input infusion approach
Òextensive growthÕ versus Òintensive growthÓ
During 1960s growth rates
(~7%/yr after WWII) starts to decline, still remains
above 5%
By end of
1970s into Gorbachev era, stagnates 2% down to 0%