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:
“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)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)