Difference between Soviet Union Economy and …
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Meghna Thapar 5 years, 3 months ago
The U.S. and the Soviet Union had different ideas about how to run an economy (business) and government. The U.S. believed in Capitalism – a system where ordinary people and businesses control the production of goods and services. The Soviet Union influenced Eastern Europe, while the U.S. influenced Western Europe. The economy of the Soviet Union was based on a system of state ownership of the means of production, collective farming, industrial manufacturing and centralized administrative planning.
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