Word: khruschev
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...Nikita Khruschev's latest financial gambit has won officially enthusiastic backing in Russia and has somewhat puzzled the staff of the Russian Research Center here. The Party's First Secretary has suggested that the Soviet Union suspend repayment of bonds worth 265 billion rubles (about $65 billion). Though a member for twenty years of the Russian Research Center has termed it "a breach of confidence unparalleled in Soviet economic history," the new moratorium will probably not change the Soviet economic system radically. For, coupled with his announcement April 8, Khruschev also anounced that for this twenty-year period the government...
...Khruschev has begun his present maneuver with the same suddenness found in many other Russian policy decisions. Last February's budget provided no indication of the move. The last large financial readjustment was the post-war currency reform in 1947. Most of the present outstanding bonds have been selling since then, but there are still some old, devalued debts to be repaid...
...bond moratorium is just one aspect of a large-scale economic re-evaluation Khruschev is leading. He also suggests decentralization of industrial administration to increase consumption. Although the Kremlin has moved toward restoring the Stalinist foreign affairs technique, economic affairs are moving in new directions...
...Khruschev's announcements have been received by unanimous resolutions of approval from factory and shipyard workers. The press has also begun to educate the people on the necessity of the move. The First Secretary said to the workers when he announced his plan, "The capitalist worker will never believe that you are doing this of your own free will....They do not understand the soul of the Soviet People...
History, Government and Economics professors disagreed last night--although not violently--about the significance of Nikita S. Khrushchev's revision of Karl Marx's thinking. Alexander Gerschenkron, professor of Economics, called the whole affair "downright un-Russian" while Arthur M. Schlesinger Jr. '38, professor of History, said that Khruschev's remarks "mark the logical culmination of recent tendencies in Soviet thinking...