IB History Alexei Kosygin's Economic Policies Key Definitions

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IB History Alexei Kosygin's Economic Policies Key Definitions

Definition

Kosygin Reform (1965)

The 1965 Soviet economic reform introduced by Premier Alexei Kosygin. It abolished Khrushchev's regional councils (sovnarkhozy) and restored central ministries, while giving enterprise managers targets based on sales revenue and profit as well as gross output, and allowing enterprises to retain a share of profits for bonuses and investment. The reform was gradually undermined by conservative party officials and the structural distortions of the Soviet price system.

Definition

Kosygin Reform (1965)

The 1965 Soviet economic reform introduced by Premier Alexei Kosygin. It abolished Khrushchev's regional councils (sovnarkhozy) and restored central ministries, while giving enterprise managers targets based on sales revenue and profit as well as gross output, and allowing enterprises to retain a share of profits for bonuses and investment. The reform was gradually undermined by conservative party officials and the structural distortions of the Soviet price system.