ABSTRACT
The adoption of the new political economy in 1921 produced a profound transformation in industry. The organisation employed during the period of War Communism was abandoned and replaced by State Trusts. Nationalised industry was placed under the control of the Supreme Economic Council. As laid down by the Constitution, there is one Supreme Economic Council for the whole Union. There are also similar councils in each republic belonging to the Soviet Union; below them are local councils. The Supreme Economic Council of the Union supervises almost all the branches of basic industry: metallurgical, textile, chemical and electrical industries, coal mines and the production of sugar and naphtha, etc. The agricultural artel is the simplest form of these collective organisations. Labour, land, machines, cattle and farms were all Socialised; vegetable-gardens, dwellings, lesser live-stock and farmyard animals were not Socialised. The kolkhozy, or collective agricultural undertakings, are a more advanced type of Socialist enterprise.
