The Economy of Soviet Union after and before fall

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Essay On The economy of Soviet Union after and before fall
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1The economy of Soviet Union after and before fall
The economy of Soviet Union after and before fall
In 1921 Russia emerged from a civil war as a newly formed soviet union. It would be
called the world’s first Marxist-communist state and one of the biggest and powerful nations
in the world. Until 1991 it was biggest union when it fell and divided itself in 15 states. The
Soviet Union was formed after overthrowing Russia’s czar Nicholas II.
After a long civil war Vladimir Lenin came in the power and formed USSR contained
15 Soviet Socialist Republics. Lenin was known for its great thoughts and socio-economic
reforms in USSR. After him Joseph Stalin in 1924- 1953 came to power. He was a cruel
dictator in his reign the loss was bored by his citizen and left the nation facing death and
starvation. The economy was highly affected due to his reforms which contained the
industrialisation, collectivizing the agriculture and building the army. Stalin followed 5 year
term plan his first focus was to make USSR industrialised nation. His collectively agricultural
policy became a disaster when the agricultural output decline by 27% and other sectors like
Chemical, Textile, housing, and consumer goods and service where also performing very
badly. Impacting the economy of the country. The country faced a major famine killing
millions of people. In 1953 the Khrushchev rose to power he initiated a series of political
reforms which was all about de-Stalinization. USSR came to light when the world first
artificial satellite name Sputnik was launched (Evans & Jr, A. B. 2016).
In 1985 Mikhail Gorbachev came to power his policies where “Glasnost and
Perestroika”. He gave freedom of speech and expression to the nationals and the other policy
was to move the economy towards high industrialisation. The freedom of speech gave its own
national the power to speak against its own government and breaking the confidence of its
own people. While the industrialisation was coming very slow. The nationals where still in
agricultural and moving them to other phase was hampering the Demand and supply of it’s
own national. The USSR faced a huge imbalance in the economy as the richer became rich