Anatomy of Gorbachev's Economic Reform

Abstract

The paper outlines and assesses the initial and potential effectiveness of a package of radical economic reforms, adopted by the CPSU Central Committee and Supreme Soviet in late June 1987. The areas involved include the central planning system, the enterprise, territorial versus sectoral management of the economy, the supply system, prices and wages, finance and credit, foreign trade, private and cooperative activity, and agriculture. Problems which may compromise the success of reform efforts, particularly inconsistencies between reform goals and long-established policies, are outlined as well. Journal of Economic Literature, Classification Numbers: 027, 054, 124.