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Perestroika was a new policy introduced by [[Mikhail Gorbachev]] in the Soviet Union to allow the people to own small businesses.

"Perestroika", which means "restructuring", was a new policy introduced by [[Mikhail Gorbachev]] in the Soviet Union to allow the people to own small businesses. Gorbachev tried to transform the stagnant, inefficient command economy into a decentralized, market-oriented economy. Under "Perestroika", open elctions were held, and industrial managers were granted greter automony. It also contributed to the complete collapse of the Soviet Union.