1h 39min, jan 2, 1921 y - New Economic Policy (NEP)

Description:

The New Economic Policy (NEP) was a revised economic strategy, introduced by Lenin and the Soviet government in 1921. It was introduced to provide “breathing space” for Russia’s depleted and war ravaged economy. The main feature of the NEP was to relax the severe restrictions and grain requisitioning imposed on Russia by war communism. The NEP also permitted capitalist activity in the lower levels of the economy. Russian farmers were once again permitted to buy and sell at market, while a new group of merchants, retailers and profiteers, known as the Nepmen, began to emerge.