FAQ About Vladimir Lenin
What was the New Economic Policy (NEP) introduced by Lenin?
Lenin introduced the New Economic Policy (NEP) in 1921 as a temporary retreat from previous policies of centralized state control over the economy. The NEP reintroduced limited market-oriented reforms, allowing private trade and small businesses to operate under a mixed economy while the state retained control over major industries. This policy was designed to stimulate economic recovery after the harsh conditions of the Russian Civil War and the economic failures of War Communism.
