New Economic Policy
economic policy of Soviet Russia proposed by Vladimir Lenin, who described it as a progression towards "state capitalism" within the workers' state of the USSR
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The New Economic Policy was an economic approach introduced by Vladimir Lenin in Soviet Russia that allowed for some capitalist practices while maintaining state control, which he framed as a step toward "state capitalism" within the workers' state. It matters because it represented a significant shift in how the early Soviet Union managed its economy, balancing socialist ideals with practical economic needs.
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