People of the Revolution and the USSR

Soviet Union state institutions Soviet communism 1879–1964 ○ Natural causes

The Marxist economist who predicted the Great Depression, and was punished for arguing capitalism could adapt

In the late 1920s, when most analysts proclaimed capitalism stable, he predicted the Great Depression; when the Comintern insisted on capitalism's imminent collapse, he predicted its end — and was proven right both times, earning Stalin's confidence.

A Hungarian Marxist economist who directed the USSR Academy of Sciences' Institute of World Economy and World Politics for two decades as the Comintern's foremost analyst. He earned Stalin's confidence by correctly predicting both the onset of the Great Depression and its end, each time against prevailing orthodoxy. After the war, his argument that wartime state intervention enabled capitalism to adapt provoked a fierce campaign: his institute was shut down in 1947 and he was branded a 'bourgeois economist.' Rehabilitated after Stalin's death, he received the Lenin Prize in 1963; a posthumous manuscript, opened per his will, delivered a sharp critique of Soviet bureaucratic degeneration.