Kolkhoz (abbrev. for kollektivnoye khozyaystvo, "collective farm") — an irrational organization of peasant life, a special form of serfdom during the years of Scoop. An invention of Lenin.
In theory it is an agricultural cooperative; in the central belt of Russia, the term is effectively synonymous with sovkhoz — a destitute farm locked in perpetual war with the surrounding natural environment — except that in the case of a sovkhoz it is the personal funds of peasant families, rather than state funds, that are squandered.
In a figurative sense, the word denotes any form of inefficient management.