Within the framework of a general paradigm of modern economic growth, this report summarizes the Soviet growth record and evaluates the economic problems that the Soviet Union now faces. It pays special attention to the effects of the Soviet economic system and political regime on patterns of economic modernization. The author identifies three major explanations for the decline in Soviet growth rates in recent years. First, extensive growth is by nature exhaustible. Second, technological change and improved efficiency failed to replace input growth or compensate for labor shortage. Finally, the strategy of haste accelerated the decline in growth.