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Asked by Abdalla

What are the key features of the New Economic Policy set in 1921 by Vladimir Lenin?

Though there a few different features, here's a few you can focus on: 1. The laws allowed the co-existence of private and public sectors. 2. The NEP represented a move away from full nationalization of certain parts of industries. 3. The NEP was primarily a new agricultural policy. The Bolsheviks viewed traditional village life as conservative and backward. With the NEP, the state only allowed private landholdings because the idea of collectivized farming had met strong opposition. 4. At the time, Lenin understood that economic conditions were dire, so he opened up markets to a greater degree of free trade, hoping to motivate the population to increase production.

David Mageller

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