New Economic Policy
- By 1921, Lenin realized War communism was not causing a recovery, came up with New Economic Policy (NEP)
- He allowed small amounts of Capitalism
- He brought in the NEP
- Some private trade was permitted
- Peasants could sell surplus
- Small factories could be purchased by co-operative for private ownership
- Some parts of the industry began to recover under the NEP
Summary |
Questions? |
Lenin realized that he failed at the idea of War Communism, so he came up with the idea of New Economic Policy. He decided to allow small amounts of Capitalism like small private trade, and peasants could sell surplus.
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What would Russia today look like if NEP would not have been introduced?
What if Lenin's idea of NEP was allowed to continue for decades like he had planned for? |