jan 9, 1921 - New Economic Policy or NEP
Description:
"In 1921, Lenin adopted the New Economic Policy, or NEP. It allowed some capitalist ventures. ALthough the state kept control of banks, foreign trade, and large indurstries, small businesses were allowd to reopen for private profit. The government also stopped squeezing peasants for grain. Under the NEP peasants held on to small plots of land and freely sold their surplus crops" (textbook, 483).
Added to timeline:
Russian Revolution
Date:
