Notes
- Capitalism
- By 1921 Lenin Realized War Communism was not causing a recovery
- He brought in the NEP
- Some private trade was permitted
- Peasants could sell surplus
- Small factories could be purchased by a co-operative for private ownership
- Some parts of the industry began to recover under the NEP
Summary
The New Economic Policy was based on capitalism. Lenin realized War Communism was not causing a recovery, so he brought in the NEP. Private trade was allowed, and peasants could now sell surplus. This led to a recovery to some parts of the industry.
Quotes
“The national economy must be put back on its feet at all costs. The first thing to do is to restore, consolidate, and improve peasant farming… Let the people have their slice of capitalism.” - Vladimir Lenin
Subjunctive Questions
Did Russia gain knowledge on War Communism by introducing the NEP?