Notes
- 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
- 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
video
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.