Council for Mutual Economic Assistance

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The Council for Mutual Economic Assistance (COMECON) was an economic organization from 1949 to 1991 under the leadership of the Soviet Union that consisted of Eastern Bloc countries along with other socialist states all over the world.[1]

Comecon was set up to stop countries in the Soviet sphere of influence from moving towards that of the capitalist United States and the West. Comecon was how the Eastern Bloc responded to the Marshall Plan of the United States.

References[change | change source]

  1. Kaser, Michael C. (1967). Comecon: Integration problems of the planned economies. Oxford University Press.