New Economic System

New Economic System

The New Economic System (German: Neues Ökonomisches System) was an economic policy that was implemented by the ruling Socialist Unity Party (SED) of the German Democratic Republic (GDR) in 1963. Its purpose was to replace the system of Five Year Plans which had been used to run the GDR's economy from 1951 onwards. The System was introduced by Walter Ulbricht in order to give centralised control to the economy to be run in as efficient a manner as possible.

Its main aims were to reduce the wastage of raw materials, increase the level of mechanisation used in production methods and, most significantly, to create a system in which quality rather than quantity was foremost. It was also used to rebuild the economy following the Republikflucht which had devastated the GDR's economy prior to the building of the Berlin Wall on 13 August 1961.

The System was largely successful and was replaced in 1968 by the Economic System of Socialism which concentrated on building up the GDR's hi-tech industries.

See also



Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • Economic system — An economic system is a system that involves the production, distribution and consumption of goods and services between the entities in a particular society. The economic system is composed of people and institutions, including their… …   Wikipedia

  • Economic System of Socialism — The Economic System of Socialism (ESS) was an economic policy implemented in East Germany between 1968–1970, led by General Secretary of the Socialist Unity Party Walter Ulbricht. It focused on high technology sectors in an attempt to make self… …   Wikipedia

  • New Economic Mechanism — The New Economic Mechanism (NEM) was a major economic reform launched in the People s Republic of Hungary in 1968. Contents 1 Reform 2 Enterprises 3 Prices 4 Foreign Trade …   Wikipedia

  • New Economic Policy — For the Malaysian New Economic Policy, see Malaysian New Economic Policy. Soviet Union This article is part of the series: Politics and government of the Soviet Union …   Wikipedia

  • New Economic Policy — (in the Soviet Union) a program in effect from 1921 to 1928, reviving the wage system and private ownership of some factories and businesses, and abandoning grain requisitions. * * * ▪ Soviet history (NEP)       the economic policy of the… …   Universalium

  • New Economic Policy — Die Neue Ökonomische Politik (Abk. NEP; russ.: НЭП Новая экономическая политика, NEP Nowaja ekonomitscheskaja politika) war ein wirtschaftspolitisches Konzept in der Sowjetunion, das Lenin und Trotzki 1921 gegen erheblichen Widerstand in der… …   Deutsch Wikipedia

  • Malaysian New Economic Policy — Under the Malaysian New Economic Policy, Bumiputras are given discounts on real estate. History of Malaysia …   Wikipedia

  • Latin American Economic System — The Latin American Economic System, officially known as Sistema Económico Latinoamericano (SELA), is an organization founded in 1975 to promote economic cooperation and social development between Latin American countries. In the early 1990s, its… …   Wikipedia

  • New Course — The New Course (Neue Kurs) was a Soviet economic policy that aimed to improve the standard of living and to increase the availability of consumer goods in East Germany. There were three major thrusts of the new course. Improvement of consumer… …   Wikipedia

  • Economic democracy — is a socioeconomic philosophy that suggests a shift in decision making power from a small minority of corporate shareholders to a larger majority of public stakeholders. There is no single definition or approach for economic democracy, but most… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”