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)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)