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New Economic Mechanism
The New Economic Mechanism (NEM) ( hu, Új gazdasági mechanizmus) was a major economic reform launched in the People's Republic of Hungary in 1968. Between 1972 and 1978, it was curtailed by the prevailing winds of Eastern Bloc politics. During the subsequent decade, until the revolutions of 1989 ended the era, the NEM's principles continued to affect the Hungarian economy, even in cases where the "NEM" name was not emphasized. Because of the NEM, Hungary in the 1980s had a higher ratio of market mechanisms to central planning than any other Eastern Bloc economy. The ratio was different to an extent that was politically challenging to bring about in the Soviet sphere because of the ideological mixture it required. The name Goulash Communism was jokingly (but tellingly) applied to this mixture. The Hungarian economy under the influence of NEM principles was widely viewed as outperforming other Eastern Bloc economies, making Hungary "the happiest barrack" in barracks communism. M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Reform
Microeconomic reform (or often just economic reform) comprises policies directed to achieve improvements in economic efficiency, either by eliminating or reducing distortions in individual sectors of the economy or by reforming economy-wide policies such as tax policy and competition policy with an emphasis on economic efficiency, rather than other goals such as equity or employment growth. "Economic reform" usually refers to deregulation, or at times to reduction in the size of government, to remove distortions caused by regulations or the presence of government, rather than new or increased regulations or government programs to reduce distortions caused by market failure. As such, these reform policies are in the tradition of laissez faire, emphasizing the distortions caused by government, rather than in ordoliberalism, which emphasizes the need for state regulation to maximize efficiency. Microeconomic reform in Australia Microeconomic reform dominated Australian economic polic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
János Kádár
János József Kádár (; ; 26 May 1912 – 6 July 1989), born János József Czermanik, was a Hungarian communist leader and the General Secretary of the Hungarian Socialist Workers' Party, a position he held for 32 years. Declining health led to his retirement in 1988, and he died in 1989 after being hospitalized for pneumonia. Kádár was born in Fiume in poverty to a single mother. After living in the countryside for some years, Kádár and his mother moved to Budapest. He joined the Party of Communists in Hungary's youth organization, KIMSZ, and went on to become a prominent figure in the pre-1939 Communist Party, eventually becoming First Secretary. As a leader, he would dissolve the party and reorganize it as the Peace Party, but the new party failed to win much popular support. After World War II, with Soviet support, the Communist Party took power in Hungary. Kádár rose through the Party ranks, serving as Interior Minister from 1948 to 1950. In 1951 he was impri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian People's Republic
The Hungarian People's Republic ( hu, Magyar Népköztársaság) was a one-party socialist state from 20 August 1949 to 23 October 1989. It was governed by the Hungarian Socialist Workers' Party, which was under the influence of the Soviet Union.Rao, B. V. (2006), ''History of Modern Europe A.D. 1789–2002'', Sterling Publishers Pvt. Ltd. Pursuant to the 1944 Moscow Conference, Winston Churchill and Joseph Stalin had agreed that after the war Hungary was to be included in the Soviet sphere of influence. The HPR remained in existence until 1989, when opposition forces brought the end of communism in Hungary. The state considered itself the heir to the Republic of Councils in Hungary, which was formed in 1919 as the first communist state created after the Russian Soviet Federative Socialist Republic (Russian SFSR). It was designated a " people's democratic republic" by the Soviet Union in the 1940s. Geographically, it bordered Romania and the Soviet Union (via the Ukrainia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Hungary
The economy of Hungary is a high-income mixed economy, ranked as the 9th most complex economy according to the Economic Complexity Index. Hungary is a member of the Organisation for Economic Co-operation and Development (OECD) with a very high human development index and a skilled labour force, with the 13th lowest income inequality in the world. The Hungarian economy is the 54th-largest economy in the world (out of 188 countries measured by IMF) with $265.037 billion annual output, and ranks 41st in the world in terms of GDP per capita measured by purchasing power parity. Hungary has an export-oriented market economy with a heavy emphasis on foreign trade; thus the country is the 35th largest export economy in the world. The country had more than $100 billion of exports in 2015, with a high trade surplus of $9.003 billion, of which 79% went to the European Union (EU) and 21% was extra-EU trade. Hungary's productive capacity is more than 80% privately owned, with 39.1% ov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eastern Bloc Economies
The Eastern Bloc, also known as the Communist Bloc and the Soviet Bloc, was the group of socialist states of Central and Eastern Europe, East Asia, Southeast Asia, Africa, and Latin America under the influence of the Soviet Union that existed during the Cold War (1947–1991). These states followed the ideology of Marxism–Leninism, in opposition to the capitalist Western Bloc. The Eastern Bloc was often called the Second World, whereas the term "First World" referred to the Western Bloc and "Third World" referred to the non-aligned countries that were mainly in Africa, Asia, and Latin America but notably also included former pre-1948 Soviet ally SFR Yugoslavia, which was located in Europe. In Western Europe, the term Eastern Bloc generally referred to the USSR and Central and Eastern European countries in the Comecon (East Germany, Poland, Czechoslovakia, Hungary, Romania, Bulgaria, and Albania). In Asia, the Soviet Bloc comprised Mongolia, Vietnam, Laos, Kampuchea, North ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic System Of Socialism
The Economic System of Socialism (ESS) was an economic policy implemented in East Germany between 1968 and 1970, which was introduced and led by the country's autocratic leader, Walter Ulbricht. It focused on high technology sectors in an attempt to make self-sufficient growth possible. Overall, centralized planning was reintroduced in the so-called structure-determining areas, which included electronics, chemicals, and plastics. Industrial combines were formed to vertically integrate industries involved in the manufacture of vital final products. Price subsidies were restored to accelerate growth in favored sectors. The annual plan for 1968 set production quotas 2.6% higher in the structure-determining areas than in the remaining sectors in order to achieve industrial growth in these areas. The state set the 1969–1970 goals for high-technology sectors even higher still. Failure to meet the ESS's goals resulted in the termination of the reform effort in 1970. Background In orde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Economic System
The New Economic System (german: Neues Ökonomisches System), officially the New Economic System of Planning and Management, was an economic policy that was implemented by the ruling Socialist Unity Party (SED) of the German Democratic Republic (GDR) in 1963. Its purpose was to replace the system of Five-Year Plans which had been used to run the GDR's economy from 1951 onwards. The System was introduced by Walter Ulbricht to try to improve the performance of the existing central planning, so that the economy might be run in as efficient a manner as possible. Its main aims were to reduce the wastage of raw materials, increase the level of mechanisation used in production methods and, most significantly, to create a system in which quality rather than quantity was foremost. It was also used to rebuild the economy following the Republikflucht which had devastated the GDR's economy prior to the building of the Berlin Wall on 13 August 1961. The System was largely successful and was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Course
The New Course (German: ''Neuer Kurs'') was an economic policy that aimed to improve the standard of living, increase the availability of consumer goods in East Germany (the GDR), lower the price of foodstuffs, small businesses and farms would be returned to the private sector. History The New Course was initiated in the Soviet Union, but would be applied to the satellite countries under its influence, including the GDR. The Council of Ministers believe the previous mistakes made should be corrected. The Minister President described the need to rehabilitate many social programs; including the distribution of ration cards, methods of tax collection amongst others. The plan was instituted in June 1956. Policy description There were three major thrusts of the new course: improvement of consumer goods, the end of terror, and a relaxation of ideological standards. It was announced in March 1953, after the death of Soviet premier Joseph Stalin. Investment in heavy industry was to be cu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Economic Policy
The New Economic Policy (NEP) () was an economic policy of the Soviet Union proposed by Vladimir Lenin in 1921 as a temporary expedient. Lenin characterized the NEP in 1922 as an economic system that would include "a free market and capitalism, both subject to state control", while socialized state enterprises would operate on "a profit basis". The NEP represented a more market-oriented economic policy (deemed necessary after the Russian Civil War of 1918 to 1922) to foster the economy of the country, which had suffered severely since 1915. The Soviet authorities partially revoked the complete nationalization of industry (established during the period of war communism of 1918 to 1921) and introduced a mixed economy which allowed private individuals to own small and medium sized enterprises, while the state continued to control large industries, banks and foreign trade. In addition, the NEP abolished '' prodrazvyorstka'' (forced grain-requisition) and introduced '' prodnalog'': ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soviet Studies
''Europe-Asia Studies'' is an academic peer-reviewed journal published 10 times a year by Routledge on behalf of the Institute of Central and East European Studies, University of Glasgow, and continuing (since vol. 45, 1993) the journal ''Soviet Studies'' (vols. 1-44, 1949–1992), which was renamed after the dissolution of the Soviet Union. The journal focuses on political, economic and social affairs of the countries of the former Soviet bloc and their successors, as well as their history in the 20th century. Both Europe-Asia Studies and Soviet Studies are available online with subscription via JSTOR from 1949 onwards. According to the ''Journal Citation Reports'', the journal has a 2020 impact factor of 2.102, ranking it --- out of 161 journals in the category "Political Science". References External links''Europe-Asia Studies''@ JSTOR''Soviet Studies''@ JSTOR See also * Central Asian Survey * Problems of Post-Communism ''Problems of Post-Communism'' is a bimonthly peer-re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forint
The forint (sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fillér, but fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991. Between 2001 and 2022, inflation was in single digits, and the forint has been declared fully convertible. In May 2022, inflation reached 10.7% amid the war in Ukraine and economic uncertainty. As a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, although under the current government there is no target date for adopting the euro. History The forint's name comes from the city of Florence, where gold coins called '' fiorino d'oro'' were minted fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comecon
The Council for Mutual Economic Assistance (, ; English abbreviation COMECON, CMEA, CEMA, or CAME) was an economic organization from 1949 to 1991 under the leadership of the Soviet Union that comprised the countries of the Eastern Bloc#List of states, Eastern Bloc along with a number of socialist states elsewhere in the world. The descriptive term was often applied to all multilateral activities involving members of the organization, rather than being restricted to the direct functions of Comecon and its organs. This usage was sometimes extended as well to bilateral relations among members because in the system of communist international economic relations, multilateral accords typically of a general nature tended to be implemented through a set of more detailed, bilateral agreements. Comecon was the Eastern Bloc's response to the formation in Western Europe of the Marshall Plan and the OEEC, which later became the OECD. Name in official languages of the members History Fou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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