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The Lost Politburo TranscriptsFrom Collective Rule to Stalin's Dictatorship$
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Paul Gregory and Norman Naimark

Print publication date: 2008

Print ISBN-13: 9780300134247

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300134247.001.0001

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The Politburo on Gold, Industrialization, and the International Economy, 1925–1926

The Politburo on Gold, Industrialization, and the International Economy, 1925–1926

Chapter:
(p.199) 11 The Politburo on Gold, Industrialization, and the International Economy, 1925–1926
Source:
The Lost Politburo Transcripts
Author(s):

David M. Woodruff

Publisher:
Yale University Press
DOI:10.12987/yale/9780300134247.003.0011

This chapter analyzes three sets of Soviet Politburo transcripts from October 26 and November 2, 1925, and February 22, 1926 that focus on macroeconomic policies. It explains that during these meetings, People's Commissar of Finance Grigory Sokol'nikov proposed a combination of import restrictions and tight monetary policy to ensure a favorable trade balance and increase the supply of gold. The chapter also suggests that macroeconomic policy making devolved too easily into discussions of penalizing the microeconomic behavior of specific groups and classes.

Keywords:   Politburo transcripts, macroeconomic policies, Grigory Sokol'nikov, import restrictions, monetary policy, trade balance, supply of gold, microeconomic behavior

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