Economic Role
The economy of the Soviet Union was a government-controlled planned economy, where the government controlled prices and the exchange of currency. Thus, its role was unlike that of a currency in a market economy, because distribution of goods was controlled by other mechanisms than currency, such as centrally planned quotas, queuing or blat. Only a limited set of products could be freely bought, thus the ruble had a role similar to trading stamps or food stamps. The currency was not internationally exchangeable and its export was illegal. The sudden transformation from a Soviet "non-currency" into a market currency contributed to the economic hardship following the collapse of the Soviet planned economy.
Read more about this topic: Soviet Ruble
Famous quotes containing the words economic and/or role:
“There’s something about Marxism that brings out warts—the only kind of growth this economic system encourages.”
—P.J. (Patrick Jake)
“This [new] period of parenting is an intense one. Never will we know such responsibility, such productive and hard work, such potential for isolation in the caretaking role and such intimacy and close involvement in the growth and development of another human being.”
—Joan Sheingold Ditzion and Dennie Palmer (20th century)