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The Economic History of Russia with a focus on the Soviet Union Era
In this article, we explore the critical turning points in Russia’s history, from the Mongol Yoke to the Bolshevik Revolution, and the enduring legacy of serfdom and industrialization.
While comparisons between the Soviet Union and Western capitalism are often drawn, this analysis focuses solely on Russia’s unique trajectory, leaving a broader East-West comparison for a future discussion.
Early History of Russia
The history of Russia begins in the 8th century with the establishment of the Russian state in 862 when the town of Novgorod invited the Varangian prince, Rurik, to establish order and rule over them. His dynasty, known as the Rurikid Dynasty would go on to rule the Kievan Rus’ and later the Grand Duchy of Moscow.
Varangians were Norse Vikings from present-day Sweden who traveled and established trade routes and settlements along the rivers of Eastern Europe and beyond, and who over time would be integrated with the local Slavic population, merging their identities and cultures.
In 1237, a vast Mongol army, part of the Golden Horde, a division of the Mongol Empire, under Batu Khan, a grandson of Genghis Khan, initiated a full-scale invasion.