The Fall of Communism Communism is a term that has several meanings. It is a form of government, an economic system and a way of life. Communism is believed to be one of the most powerful forces in the world. The fall of the Communist regime in the Soviet Union was more than a political event. It was a powerful bond between economics and politics. The communist regime was so ingrain in every aspect of soviet life that the Russian people were left with little democratic tradition. Russia faced the seemingly impracticable task of economic liberalization and democratization. This is combined with the fact that the new administrati