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Soviet Economic System


Two Main Pillars of the Soviet Economic System

Public ownership
Planned economy

Main Features of the Soviet Economic Model

Virtually complete state ownership of the means of production
Severe curtailment of money-commodity relations (but not their complete elimination: money retained its use as a measure of exchange, financial accounting, and remuneration of labour)
Distortion of the law of value (prices were determined not on the basis of the market supply and demand but fixed by bureaucrats at their office desks)
Extremely rigid centralisation of economic planning and management with minimal economic decision-making powers left for republics and regions
Administrative distribution of resources and commodities
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Soviet "Command Economy"


Soviet Russia

Understanding the Soviet Period
Russian Political Culture
Soviet Ideology
The Soviet System
Soviet Nationalities
The Economic Structure
The Socialist Experiment
"Great Leap" to Socialism
The USSR in World War II
Stalin's Legacy
Brezhnev's Stagnation
The Economy in Crisis
Political Reform
The USSR's Collapse

Models of Soviet Power

Tables and Statistics

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