The New Economic Policy
Notes:
- By 1921 Lenin realized War Communism was not causing a recovery
- He brought in the NEP
- Some private trade was permitted
- Peasants could sell surplus
- Small factories could be purchased by a co-operative for private ownership
- Some parts of the industry began to recover under the NEP
Capitalism- allows for the rich to get richer complete opposite to communist system
Except China went communist but have a complete capitalist economy now.