Abstract

Emerging from the Russian empire, the Soviet Union, a union of several soviet republics, was founded in 1922 and was in existence till December 1991. From 1945 till the year of its dissolution, the Soviet Union was one of the world’s two superpowers, exercising a profound influence on the world’s economics and politics. The case briefly discusses the economic scenario of the Soviet Union over different periods. It describes some of the policies followed in the different eras and their effects on the Soviet economy. The case ends with an analysis of the reasons that led to the dissolution of the Soviet Union.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Analyze the economic policies followed at various times by the government of the Soviet Union
• Analyze the reasons for the dissolution of the Soviet Union
• and Evaluate the strengths and weaknesses of a planned economy.

Keywords

Soviet economy, Communism, Lenin, New Economic Policy, Stalin, Command economy, Price Control, State Farms and Collective Farms, Nikita Krushchev