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The New Economic Policy[a] was an economic policy formed by Vladimir Lenin in 1921.[1] The NEP consists of a state capitalist economy[b] that is lead by the dictatorship of the proletariat.[2] This state capitalist economy has a peasant sector which operated in market to exchange commodities. This 'state capitalism' was theorized by Lenin to be useful to develop the industrial proletariat and developing the productive forces.[3] This was later abolished by Stalin in order to enact a planned economy and five year plans once the productive forces were developed.
References
- ↑ Vladimir Ilyich Lenin (1921). The New Economic Policy. Bulletin of the Second All-Russia Congress of Political Education Departments. [MIA]
- ↑ “Our state capitalism differs essentially from the state capitalism in countries that have bourgeois governments in that the state with us is represented not by the bourgeoisie, but by the proletariat, who has succeeded in winning the full confidence of the peasantry.”
V.I. Lenin (November 14, 1922). "To the Russian Colony in North America" Marxists Internet Archive. Retrieved 11/10/2022. - ↑ V.I. Lenin (21 April, 1921). "The Tax in Kind" Marxists Internet Archive.
Notes
- ↑ Russian: Новая Экономическая Политика
- ↑ The 'state capitalist' economy is not typical of state capitalist economies as in the Republic of Korea before Market Reforms or Nazi Germany.