Question

Explain the new economic policy of lenin ?​

Answer 1

New Economic Policy (NEP):

• The NEP was announced at the 10the Congress of the Communist Party, March 8-16, 1921.
• Ironically some of the demands from the Kronstardt petition were satisfied by new policy.
• Lenin described the NEP as "an unfortunate but necessary step" and compared it to Treaty of Brest - Livotsk.
• Lenin described the NEP as " State capitalism" whereby there was a temporary coexistence with private property with communist property.
• Lenin also described it as " Bridled Capitalism" , capitalism that was restrained, controlled and exploited.

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