4 Jan 1928 Jahr - Stalin's Five-Year Plans are implemented

Beschreibung:

"Once in power, Stalin imposed government control over the Soviet Union's economy. In the past, said Stalin, Russia had suffered because of its economic backwardness. In 1928, he proposed the first of several 'five-year plans' aimed at building heavy industry, improving transportation, and increasing farm output. He brought all economic actibity under government control. The government owned all businesses and distributed all resources. The Soviet Union developed a command economy, in which government officials made all basic economic decisions. By contrasts, in a capitalist system, the free market determine most economic decisions. Privately owned businesses compete to win the consumer's choice. This competition regulates the price and quality of goods" (textbook, 542-543).

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