Law on Cooperatives

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The Law on Cooperatives was a major economic reform implemented in the Soviet Union during General Secretary Mikhail Gorbachev's perestroika and glasnost reforms. It was implemented in May 1988, allowed for independent worker-owned cooperatives to operate in the Soviet Union, as opposed to just state-owned enterprises, and gave guidelines as to how these cooperatives should be managed.[1] While originally the law imposed high taxes and restrictions on employment, it was eventually revised so as not to discourage activity within the private sector.[2]

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References[edit]

  1. ^ "Law on Cooperatives". Soviethistory.msu.edu. Retrieved 30 July 2018.
  2. ^ Pike, John (7 September 2011). "Perestroika". GlobalSecurity.org. Retrieved 17 March 2015.