Soviet Union – 1817 to 1991
Economic transition refers to the process of shifting from a centrally planned economy to a market-oriented economy, which involves structural changes in production, consumption, and distribution systems. This shift is particularly significant in the context of post-Soviet states, as they navigated the challenges of moving away from Soviet-era practices toward more capitalist frameworks. Understanding economic transition sheds light on the broader impact of the Soviet Union's legacy on modern economies and societies.
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