In both the USSR and Venezuela cases we've seen a complete separation of meaningful feedback and controls in the regulation arm and the market itself. In both cases multiple markets emerged that where nominally independent (black, grey, sanctioned, and unsanctioned) which created ways for capital to flow that had previously been impossible. In both cases there appears to be tremendous looting of GDP into the market accounts of a smaller wealthy elite. To the extent that the wealth of a nation empowers its governance, the rise of oligarchs creates a nominally stable power structure that is disassociated with GDP development. To me, this appears to structurally favor wealth creation for the oligarchs over GDP creation for the economy.

What I observe is that the rapid shift of materially significant (from a GDP perspective) wealth from the general market to a much smaller number of market 'maskers' on a sovereign state basis, has an attenuating effect on systemic controls and other market damping systems.

So looking at how business cycles happen in a system where more and more interacting economies are less market driven and more exploitation driven is, again in my non-professional opinion, might shed some light on how the cycles will evolve.