500 Days
Encyclopedia
500 Days Program was an ambitious program to overcome the economic crisis
in the Soviet Union
by means of transition into market economy
.
The program was proposed by Grigory Yavlinsky and further developed by a work group under the direction of Stanislav Shatalin (an economic advisor to Mikhail Gorbachev
). Before beginning work on the project, Shatalin had been assured by Gorbachev that he was serious about radically reforming the Soviet economy.
Therefore, in August of 1990, the group issued a 400-page report titled "Transition to the Market." It was based on the earlier "400 Days Project" prepared by Yavlinsky and became known colloquially as the "500 Days Program" as it intended to create the groundwork for a modern market economy in 500 days. The report called for creation of a competitive market economy, mass privatization
, prices determined by the market, integration with the world economic system, a large transfer of power from the Union government
to the Republics
, and many other radical reforms.
The 500 Days Program immediately gained the complete support of Boris Yeltsin
and a more skeptical support from Mikhail Gorbachev
; soon after, Nikolai Ryzhkov
, the Chairman
of the Council of Ministers, openly repudiated it.
The Supreme Soviet of the Soviet Union delayed in adopting the program, eventually accepting a more moderate program for economic reform, titled: "Basic Guidelines for Stabilization of the Economy and Transition to a Market Economy." The new program contained many measures from the 500-Days Program, but most notably lacked a timetable and didn't mention the division of economic power between the Union
and Republics.
Financial crisis
The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these...
in the Soviet Union
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....
by means of transition into market economy
Market economy
A market economy is an economy in which the prices of goods and services are determined in a free price system. This is often contrasted with a state-directed or planned economy. Market economies can range from hypothetically pure laissez-faire variants to an assortment of real-world mixed...
.
The program was proposed by Grigory Yavlinsky and further developed by a work group under the direction of Stanislav Shatalin (an economic advisor to Mikhail Gorbachev
Mikhail Gorbachev
Mikhail Sergeyevich Gorbachev is a former Soviet statesman, having served as General Secretary of the Communist Party of the Soviet Union from 1985 until 1991, and as the last head of state of the USSR, having served from 1988 until its dissolution in 1991...
). Before beginning work on the project, Shatalin had been assured by Gorbachev that he was serious about radically reforming the Soviet economy.
Therefore, in August of 1990, the group issued a 400-page report titled "Transition to the Market." It was based on the earlier "400 Days Project" prepared by Yavlinsky and became known colloquially as the "500 Days Program" as it intended to create the groundwork for a modern market economy in 500 days. The report called for creation of a competitive market economy, mass privatization
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
, prices determined by the market, integration with the world economic system, a large transfer of power from the Union government
Politics of the Soviet Union
The political system of the Soviet Union was characterized by the superior role of the Communist Party of the Soviet Union , the only party permitted by Constitution.For information about the government, see Government of the Soviet Union-Background:...
to the Republics
Republics of the Soviet Union
The Republics of the Soviet Union or the Union Republics of the Soviet Union were ethnically-based administrative units that were subordinated directly to the Government of the Soviet Union...
, and many other radical reforms.
The 500 Days Program immediately gained the complete support of Boris Yeltsin
Boris Yeltsin
Boris Nikolayevich Yeltsin was the first President of the Russian Federation, serving from 1991 to 1999.Originally a supporter of Mikhail Gorbachev, Yeltsin emerged under the perestroika reforms as one of Gorbachev's most powerful political opponents. On 29 May 1990 he was elected the chairman of...
and a more skeptical support from Mikhail Gorbachev
Mikhail Gorbachev
Mikhail Sergeyevich Gorbachev is a former Soviet statesman, having served as General Secretary of the Communist Party of the Soviet Union from 1985 until 1991, and as the last head of state of the USSR, having served from 1988 until its dissolution in 1991...
; soon after, Nikolai Ryzhkov
Nikolai Ryzhkov
Nikolai Ivanovich Ryzhkov was a Soviet official who became a Russian politician following the dissolution of the Soviet Union. He served as the last Chairman of the Council of Ministers or Premier of the Soviet Union from 1985 to 1991...
, the Chairman
Premier of the Soviet Union
The office of Premier of the Soviet Union was synonymous with head of government of the Union of Soviet Socialist Republics . Twelve individuals have been premier...
of the Council of Ministers, openly repudiated it.
The Supreme Soviet of the Soviet Union delayed in adopting the program, eventually accepting a more moderate program for economic reform, titled: "Basic Guidelines for Stabilization of the Economy and Transition to a Market Economy." The new program contained many measures from the 500-Days Program, but most notably lacked a timetable and didn't mention the division of economic power between the Union
and Republics.
Authors
- Stanislav Sergeyovich Shatalin, Станислав Сергеевич Шаталин
- Nikolai Yakovlevich Petrakov, Николай Яковлевич Петраков
- Grigory Alekseyovich Yavlinsky, Григорий Алексеевич Явлинский
- Sergey Vladimirovich Aleksashenko, Сергей Владимирович Алексашенко
- Andrey Petrovich VavilovAndrey VavilovAndrey Petrovich Vavilov is a Russian politician and businessman, senator and a former first deputy finance minister of Russia, secretary of state.In 2002 Mr...
, Андрей Петрович Вавилов - Leonid Markovich Grigoryev, Леонид Маркович Григорьев
- Mikhail Mikhailovich Zadornov, Михаил Михайлович Задорнов
- Vladlen Arkadyevich Martynov, Владлен Аркадьевич Мартынов
- Vladimir Mashchits, Владимир Мащиц
- Aleksey Yuryevich Mikhailov Алексей Юрьевич Михайлов
- Boris Grigorevich Fyodorov, Борис Григорьевич Фёдоров
- Tatyana Vladimirovna Yarygina, Татьяна Владимировна Ярыгина
- Yevgeniy Grigorevich Yasin, Евгений Григорьевич Ясин