The New Economic Policy (NEP)
By 1921 Lenin realized communism could not spark a recovery
Introduces the New Economic Policy (NEP)
Private trade was allowed
Peasants could sell surplus
Russia began to recover under the NEP
Introduces the New Economic Policy (NEP)
Private trade was allowed
Peasants could sell surplus
Russia began to recover under the NEP
Summary
Lenin realized that war communism could not spark an economic recovery, so he introduced the New Economic Plan (NEP). Under this, private trade was permitted and surplus was allowed to be sold for a profit. As a result Russia's industry and economy began to recover.