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Russian Economic Issues. By: Shane Deyoc and Adrianna Cervone. During the soviet regime.
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Russian Economic Issues By: Shane Deyoc and Adrianna Cervone
During the soviet regime The economy during the soviet ruling was not a strong system. The soviets did not follow a capitalist economic plan such as america, they followed communism. The idea that all classes should be equal and harmony for everyone. Neither harmony or equality came from the soviet ruling, nothing came of it but bloodshed and starving russians. The government used a lot of forced labor to accomplish the needs that the country had, so citizens were not being paid much, if anything for that matter. They had no incentive to work and also lacked funds that could have encouraged a more self sustaining economy while continuing growing foreign exporting/importing.
End of soviet rule The final leader of the soviet union, mikhailgorbachev, made several reforms in order to try and save the failing ussr. The end of the communist ruling in Russia allowed for a completely new form of economic system. Russia became more of a capitalist nation and people were now separated into “classes” although the class system never really went away in Russia even during soviet times.
Today Russia’s economy in modern years has been good in the fact that they have become a m ajor exporter of natural gas and oil because of new reserves being discovered in russias valuable land. Also since soviet times Russia has exported steel. Since Russia has started the current problems with the Ukraine, and annexing crimea, many countries around the world have put economic sanctions on trade with Russia in order to choke out Russia and make them have to stop their campaign through Ukraine.
