Hungary and New Economic Mechanism

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Difference between Hungary and New Economic Mechanism

Hungary vs. New Economic Mechanism

Hungary (Magyarország) is a country in Central Europe that covers an area of in the Carpathian Basin, bordered by Slovakia to the north, Ukraine to the northeast, Austria to the northwest, Romania to the east, Serbia to the south, Croatia to the southwest, and Slovenia to the west. The New Economic Mechanism (NEM) was a major economic reform launched in the People's Republic of Hungary in 1968.

Eastern Bloc

The Eastern Bloc was the group of socialist states of Central and Eastern Europe, generally the Soviet Union and the countries of the Warsaw Pact.

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Economy of Hungary

Hungary is an OECD high-income mixed economy with a very high human development index and a skilled labour force, with the 13th lowest income inequality in the world; furthermore it is the 14th most complex economy according to the Economic Complexity Index.

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Goulash Communism

Goulash Communism (Hungarian: gulyáskommunizmus) or Kadarism (after János Kádár) refers to the variety of communism as practised in the Hungarian People's Republic from the 1960s until the Central European collapse of communism in 1989.

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Hungarian forint

The forint (sign: Ft; code: HUF) is the currency of Hungary.

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Hungarian People's Republic

The Hungarian People's Republic (Magyar Népköztársaság) was a one-party socialist republic (communist state) from 20 August 1949 to 23 October 1989.

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Hungarian Revolution of 1956

The Hungarian Revolution of 1956, or Hungarian Uprising of 1956 (1956-os forradalom or 1956-os felkelés), was a nationwide revolt against the Marxist-Leninist government of the Hungarian People's Republic and its Soviet-imposed policies, lasting from 23 October until 10 November 1956.

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Hungarian Socialist Workers' Party

The Hungarian Socialist Workers' Party (Magyar Szocialista Munkáspárt, MSzMP) was the ruling Marxist–Leninist party of the Hungarian People's Republic between 1956 and 1989.

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János Kádár

János Kádár (26 May 1912 – 6 July 1989) was a Hungarian communist leader and the General Secretary of the Hungarian Socialist Workers' Party, presiding over the country from 1956 until his retirement in 1988.

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Revolutions of 1989

The Revolutions of 1989 formed part of a revolutionary wave in the late 1980s and early 1990s that resulted in the end of communist rule in Central and Eastern Europe and beyond.

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Stalinism

Stalinism is the means of governing and related policies implemented from the 1920s to 1953 by Joseph Stalin (1878–1953).

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