[Related to Solved Problem 22.2 on page 799] Shortly before the fall of the Soviet Union, the economist Gur Ofer of Hebrew University of Jerusalem wrote, “The most outstanding characteristic of Soviet...

[Related to Solved Problem 22.2 on page 799] Shortly before the fall of the Soviet Union, the economist Gur Ofer of Hebrew University of Jerusalem wrote, “The most outstanding characteristic of Soviet growth strategy is its consistent policy of very high rates of investment, leading to a rapid growth rate of [the] capital stock.” Explain why this economic growth strategy turned out to be a very poor one. Source: Gur Ofer, “Soviet Economic Growth, 1928–1985,” Journal of Economic Literature, Vol. 25, No. 4, December 1987, p. 1,784.