1965 Soviet economic reform | Wikipedia audio article
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Date: 29/11/2018

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1965 Soviet economic reform

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SUMMARY
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The 1965 Soviet economic reform, sometimes called the Kosygin reform (Russian: Косыгинская реформа) or Liberman reform, were a set of planned changes in the economy of the Soviet Union (USSR). A centerpiece of these changes was the introduction of profitability and sales as the two key indicators of enterprise success. Some of an enterprise's profits would go to three funds, used to reward workers and expand operations; most would go to the central budget.
The reforms were introduced politically by Alexei Kosygin—who had just become Premier of the Soviet Union following the removal of Nikita Khrushchev—and ratified by the Central Committee in September 1965. They reflected some long-simmering wishes of the USSR's mathematically oriented economic planners, and initiated the shift towards a more decentralized economic planning process.