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Khrushchev Economy - Coggle Diagram
Khrushchev Economy
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industrial reforms
focused on light industry as well as heavy industry to improve living standards and broaden skills in the economy
liberman plan allowed managers to reinvest 40% of profits into their businesses and gave them more power
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Virgin Land Scheme
successes
by 1954, 33.5 million acres of new land had been ploughed
in 1956, virgin lands contributed 50% of total grain harvest
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failures
speed of the plan was too quick, millions of acres on which grain was produced but not harvested
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in 1953 they predicted a bumper crop but instead faced shortages and had to import grain from the west