Tag: Nepmen

Entrepreneurs and the Reemergence of Capitalism

In 1921, the New Economic Policy was implemented, which denationalized industry and further diversified the Russian economy. Vladimir Lenin argued that reforming the economy would stabilize unrest, particularly within the peasantry. Citizens were permitted to privately sell and exchange surplus of food and resources as a result of the New Economic Policy’s tax-in-kind parameters. Ironically, this economic policy… Continue reading Entrepreneurs and the Reemergence of Capitalism