New Economic Policy (jan 29, 1921 – jan 23, 1924)
Description:
The New Economic Policy was enacted by Lenin. Russia was in a bad economic state after a quick shift to communism and a war. Seeing that communism was going to bankrupt Russian business, Lenin knew he had to change. It brought back capitalism. The biggest change this brought about was returning to a money based economy. Lenin had always intended to end the capitalism in business once the economy got back on its feet, but he died, Stalin took over, and Russia became a super capitalist country.Added to timeline:
Date:
jan 29, 1921
jan 23, 1924
~ 2 years and 11 months