perestroika

perestroika , Soviet economic and social policy of the late 1980s. Perestroika [restructuring] was the term attached to the attempts (1985-91) by Mikhail Gorbachev to transform the stagnant, inefficient command economy of the Soviet Union into a decentralized market-oriented economy. Industrial managers and local government and party officials were granted greater autonomy, and open elections were introduced in an attempt to democratize the Communist party organization. By 1991, perestroika was on the wane, and after the failed August Coup of 1991 was eclipsed by the dramatic changes in the constitution of the union.

Bibliography: See M. Gorbachev, Perestroika (1988); E. A. Hewett and V. H. Winston, ed., Milestones in Glasnost and Perestroyka (1991).

perestroika (Rus. reconstruction) Adopted by Soviet President Mikhail Gorbachev in 1986, perestroika was linked with glasnost. The restructuring included reform of government and the bureaucracy, decentralization and abolition of the Communist Party monopoly. Liberalization of the economic system included the introduction of limited private enterprise and freer movement of prices.