How Far Do You Agree That The Economy Of Tsarist R

1049 Words5 Pages
How far do you agree that the economy of Tsarist Russia was transformed in the years to 1914? During the Tsarist rule, Russia’s economy dramatically changed both for the positive and the bad. Every Tsar wanted one thing. To modernise Russia from which they saw to be dramatically, economically behind countries across Europe. Their main of doing this was by building the trans-Siberian railway and was thought to be ‘the way forward’ for Russia. However did this have limitations and were the actual outcomes better than the predicted outcomes? Russia's initial plan for modernization was via industrialization. During the years 1881 and 1900 was Russia’s ‘industrial boom’. It was in this time that Russia’s industrial output increased by up to 4%. Most of the capital industries were on a rise. The government done this by focusing on the construction of railroads that required iron, coal and steel. The hope was that the construction of railways would lead to the creation of iron, steel and coal industries, which would in turn create other industries focusing on production and consumer goods. This was all thanks to Russia’s finance minister Sergei Witte. He tried to bring Russia’s economy up to the standards with the rest of Europe as they were seen as backwards compared to other countries. The best way he saw this was through industrialization. This is because the market was heavily controlled by the state and the development of heavy industry allowed for a fast catch-up, rapidly covering the 'gap' that existed in the country's economy. Besides all this such industrialization improved the overall military capability of Russia. Therefore during this period Russia’s economy was dramatically and successfully transformed. Russia's industrialization was further hindered by the financial state of both its government and its people. The government was highly in debt and forced

    More about How Far Do You Agree That The Economy Of Tsarist R

      Open Document