New Economic Policy (19 mars 1921 – 28 déc. 1927)

Description:

March 1921: Lenin introduced the NEP in an attempt to mollify counter-revolutionaries and help the economy recover.
-Grain requisitioning was abolished.
-A 'tax in kind' was introduced; peasants had to pay tax, but less than was taken under requisitioning.
-Ban on private trade removed.
-Small-scale businesses allowed under private ownership.
-State maintained control of heavy industry.

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