What was Soviet economic system?
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Answer:
The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial manufacturing. The highly centralized Soviet-type economic planning was managed by the administrative-command system. ... World oil prices collapsed in 1986, putting heavy pressure on the economy.
Answer:
The Soviet economic system has been the subject of such bitter controversy that we must try to look at it today as calmly as we can if we want to get a fairly accurate picture. Russia is not, and has not been in the past quarter century, the economic and social utopia pictured by some pro-Soviet writers in the United States. On the other hand, it has not been the unrelieved hell, compounded of brutality and inefficiency, painted by anti-Soviet writers. It has been a vast, churned up, yeasty mixture of good and bad, of achievement and failure, of aspirations for the better things of life and attempts to attain them by violent short cuts. Those short cuts involved much cruelty toward individuals who for one reason or another stood in the way or opposed certain practices. Often the result was loss or wastage of lives, talents, and material—but also remarkable success in achieving the industrialization of a relatively backward nation.
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