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A Full-Value Ruble The Promise of Prosperity in the Postwar Soviet Union

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new history shows that, despite Marxism's rejection ofmoney, the ruble was critical to the Soviet Union's promise ofshared prosperity for its citizens. In spite of KarlMarx's proclamation that money would become obsolete underCommunism, the ruble remained a key feature of Soviet life. Infact, although Western economists typically concluded that moneyultimately played a limited role in the Soviet Union,Kristy Ironside argues that money was both moreimportant and more powerful than most histories have recognized.After the Second World War, money was resurrected as an essentialtool of Soviet governance. Certainly, its importance was not loston Soviet leaders, despite official Communist Party dogma. Money,Ironside demonstrates, mediated the relationship between the Sovietstate and its citizens and was at the center of both thegovernment's and the people's visions for the maturing Communistproject. A strong ruble-one that held real value in workers' handsand served as an effective labor incentive-was seen as essential tothe economic growth that would rebuild society and realizeCommunism's promised future of abundance. Ironside shows how Sovietcitizens turned to the state to remedy the damage that the ravagesof the Second World War had inflicted upon their householdeconomies. From the late 1940s through the early 1960s, progresstoward Communism was increasingly measured by the health of itscitizens' personal finances, such as greater purchasing power,higher wages, better pensions, and growing savings. However, theincreasing importance of money in Soviet life did not necessarilycorrelate to improved living standards for Soviet citizens. TheSoviet government's achievements in "raising the people's materialwelfare" continued to lag behind the West's advances during aperiod of unprecedented affluence. These factors combined toundermine popular support for Soviet power and confidence in theCommunist project.

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Call Number

940 IRO a

Publisher

Cambridge : England Harvard University Press., 2021

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Language

English

ISBN/ISSN

9780674251649

Classification

940

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