Soviet economy
E853446
The Soviet economy was a centrally planned, state-controlled economic system characterized by government ownership of industry, collective agriculture, and production targets set by national plans rather than market forces.
Statements (75)
| Predicate | Object |
|---|---|
| instanceOf |
command economy
ⓘ
planned economy ⓘ socialist economy ⓘ state-controlled economy ⓘ |
| agriculturalSystem |
collective farms
ⓘ
state farms ⓘ |
| bankingSystem | Gosbank monopoly ⓘ |
| basedOn | Marxist–Leninist ideology NERFINISHED ⓘ |
| characterizedBy |
administrative allocation of resources
ⓘ
central planning ⓘ chronic shortages of consumer goods ⓘ collective agriculture ⓘ emphasis on heavy industry ⓘ limited private enterprise ⓘ limited role of market forces ⓘ military–industrial complex ⓘ price controls ⓘ production targets set by national plans ⓘ soft budget constraints for enterprises ⓘ state ownership of the means of production ⓘ |
| contributedTo | Soviet Union becoming a superpower ⓘ |
| country | Soviet Union ⓘ |
| declineContributedTo | dissolution of the Soviet Union ⓘ |
| endTime | 1991 ⓘ |
| experienced |
chronic consumer goods shortages
ⓘ
economic stagnation in the 1970s and 1980s ⓘ high military expenditure burden ⓘ low labor productivity compared to Western economies ⓘ period of extensive growth ⓘ postwar reconstruction ⓘ rapid industrialization in the 1930s ⓘ severe wartime destruction during World War II ⓘ technological lag in many civilian sectors ⓘ |
| firstMajorPlan | First Five-Year Plan GENERATED ⓘ |
| firstMajorPlanStartTime | 1928 GENERATED ⓘ |
| governedBy | Communist Party of the Soviet Union NERFINISHED ⓘ |
| hasPart |
Five-Year Plans
NERFINISHED
ⓘ
Gosbank NERFINISHED ⓘ Gosplan NERFINISHED ⓘ Gossnab NERFINISHED ⓘ central ministries and branch ministries ⓘ kolkhoz system ⓘ sovkhoz system ⓘ state-owned enterprises ⓘ |
| influenced | economies of Eastern Bloc countries ⓘ |
| laborSystem |
guaranteed employment
ⓘ
limited wage differentials ⓘ state-controlled trade unions ⓘ |
| mainPlanningInstrument | Five-Year Plan NERFINISHED ⓘ |
| memberOf | Council for Mutual Economic Assistance NERFINISHED ⓘ |
| nationalCurrency | Soviet ruble NERFINISHED ⓘ |
| planningAgency | Gosplan NERFINISHED ⓘ |
| policyPeriod |
Khrushchev reforms
NERFINISHED
ⓘ
Kosygin reforms NERFINISHED ⓘ New Economic Policy NERFINISHED ⓘ Stalinist command economy NERFINISHED ⓘ perestroika reforms NERFINISHED ⓘ |
| reformedBy | Mikhail Gorbachev NERFINISHED ⓘ |
| reformProgram | perestroika NERFINISHED ⓘ |
| socialPolicy |
price subsidies for basic goods
ⓘ
subsidized housing ⓘ universal basic services in health and education ⓘ |
| startTime | 1922 ⓘ |
| supervisedBy |
Council of Ministers of the USSR
NERFINISHED
ⓘ
State Committee for Material and Technical Supply NERFINISHED ⓘ State Committee on Prices NERFINISHED ⓘ State Planning Committee NERFINISHED ⓘ |
| tradePartner |
Eastern Bloc
NERFINISHED
ⓘ
developing countries aligned with the USSR ⓘ |
| tradeSystem | state monopoly on foreign trade ⓘ |
| transitionedTo | market-oriented economies in successor states after 1991 ⓘ |
| usedMechanism |
administrative price setting
ⓘ
centralized investment allocation ⓘ material balances planning ⓘ output quotas for enterprises ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.