Wednesday, April 27, 2011

Castros’ Buckling

It took Lenin a little over three years to realize that his ideology would not produce economic development.  He augmented his Marxist ideology with the New Economic Policy (NEP).  The NEP was a re-introduction of free market economy into the rigid state run economy of the Soviet Union.  These first three years after the October seizure of power by the Bolsheviks are known as the period of War Economy.  Following this period, the NEP as a policy was adopted early in 1921.