the soviet union had what type of economic system
Economy of the Soviet Union The economy of the Soviet Union (Russian: экономика Советского Союза) was based on a system of state ownership of the means of production, collective farming, industrial manufacturing and centralized administrative planning. The economy was characterised by state control of investment, public ownership of industrial assets, macroeconomic stability, negligible unemployment and high job security.[14]
Soviet Union With the rise of strong nationalist and separatist movements inside the union republics, Gorbachev tried to avert a dissolution of the Soviet Union in the post-Cold War era. A March 1991 referendum, boycotted by some republics, resulted in a majority of participating citizens voting in favor of preserving the union as a renewed federation. Gorbachev's power was greatly diminished after Russian President Boris Yeltsin played a high-profile role in facing down an abortive August 1991 coup d'état attempted by Communist Party hardliners. On 25 December 1991, Gorbachev resigned and the remaining twelve constituent republics emerged as independent post-Soviet states. The Russian Federation—formerly the Russian SFSR—assumed the Soviet Union's rights and obligations and is recognized as the successor state of the Soviet Union.[11][12][13] In summing up the international ramifications of these events, Vladislav Zubok stated: "The collapse of the Soviet empire was an event of epochal geopolitical, military, ideological and economic significance."[14]
Soviet Union With the rise of strong nationalist and separatist movements inside the union republics, Gorbachev tried to avert a dissolution of the Soviet Union in the post-Cold War era. A March 1991 referendum, boycotted by some republics, resulted in a majority of participating citizens voting in favor of preserving the union as a renewed federation. Gorbachev's power was greatly diminished after Russian President Boris Yeltsin played a high-profile role in facing down an abortive August 1991 coup d'état attempted by Communist Party hardliners. On 25 December 1991, Gorbachev resigned and the remaining twelve constituent republics emerged as independent post-Soviet states. The Russian Federation—formerly the Russian SFSR—assumed the Soviet Union's rights and obligations and is recognized as the successor state of the Soviet Union.[10][11][12] In summing up the international ramifications of these events, Vladislav Zubok stated: "The collapse of the Soviet empire was an event of epochal geopolitical, military, ideological and economic significance."[13]
First five-year plan His plan was to quickly and effectively industrialize the economy of the Soviet Union and to specifically concentrate on heavy industry. His planning was ineffective and unrealistic given the short amount of time given to meet the desired goals. Â [1]