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Economy of the Soviet Union - Wikipedia

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The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial manufacturing. An administrative-command system managed a distinctive form of central planning. The Soviet economy was characterized by state control of investment, prices, a dependence on natural resources, lack of consumer goods, little foreign trade, public ownership of industrial assets, macroeconomic stability, low unemployment and high job security.[14] Beginning in 1930, the course of the economy of the Soviet Union was guided by a series of five-year plans. By the 1950s, the Soviet Union had rapidly evolved from a mainly agrarian society into a major industrial power.[15] Its transformative capacity meant communism consistently appealed to the intellectuals of developing countries in Asia.[16] Impressive growth rates during the first three five-year plans (1928–1940) are particularly notable given that this period is nearly congruent with the Great Depress

Economy of the Soviet Union - Wikipedia Jump to content From Wikipedia, the free encyclopedia This article needs to be updated . The reason given is: More recent sources . Please help update this article to reflect recent events or newly available information. ( December 2023 ) {{cite|title=A Study of the Soviet Economy: Volume 1|url=https://www.elibrary.imf.org/display/book/9789264134683/vl001.xml}}</ref><ref>{{cite|title=Chapter III.4 The Exchange and Trade Systems|url=https://www.elibrary.imf.org/display/book/9789264134683/ch008.xml}}</ref><ref>{{cite web|url=http://www.umsl.edu/services/go

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