Economy
Under the Soviet system, the centralized economy of the republic banned private ownership of income producing property. Beginning in the late 1920s, privately owned farms in Armenia were collectivized and placed under the directive of the state, although this was often met with active resistance by the peasantry. During the same time (1929–1936), the government also began the process of industrialization in Armenia. By 1935, the gross product of agriculture was 132% of that of 1928 and the gross product of industry was 650% to that of 1928. The economic revolution of the 1930s, however, came at a great cost: it broke up the traditional peasant family and village institution and forced many living in the rural countryside to settle in urban areas. Private enterprise came to a virtual end as it was effectively brought under government control.
Read more about this topic: Armenian Soviet Socialist Republic
Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)