The New Economic Policy (NEP) was an economic strategy introduced by Vladimir Lenin in 1921, aimed at revitalizing the Soviet economy after the devastation of the Russian Civil War. It marked a significant shift from the strict policies of War Communism to a more market-oriented approach, allowing for limited private enterprise and small-scale capitalism while maintaining state control over major industries. This policy played a crucial role in stabilizing the economy and establishing the Soviet Union during its formative years.
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