Which policy did Lenin implement to stabilize the economy after the Bolshevik seizure of power?

Which policy did Lenin implement to stabilize the economy after the Bolshevik seizure of power?

• A. Five-Year Plans
• B. New Economic Policy (NEP)
• C. Perestroika
• D. Glasnost

Answer: (B)

The New Economic Policy, or NEP, is the move Lenin used to stabilize the economy by allowing a mixed economy after the upheaval of War Communism. War Communism had crushed production: grain requisitions left peasants reluctant to farm, factories struggled, and shortages sparked unrest. The NEP ended forced grain requisitions and instead imposed a tax in kind, letting peasants sell any surplus on the market. It also permitted private trade and small private businesses, while the state still controlled large industries, banks, and transport. Restoring the money economy and giving people incentives to work revived agricultural and some industrial production, bringing in revenue for the state and reducing famine and discontent. The other policies listed came later in different eras (Five-Year Plans under Stalin, Perestroika and Glasnost under Gorbachev), so they’re not the policy Lenin implemented.

The New Economic Policy, or NEP, is the move Lenin used to stabilize the economy by allowing a mixed economy after the upheaval of War Communism. War Communism had crushed production: grain requisitions left peasants reluctant to farm, factories struggled, and shortages sparked unrest. The NEP ended forced grain requisitions and instead imposed a tax in kind, letting peasants sell any surplus on the market. It also permitted private trade and small private businesses, while the state still controlled large industries, banks, and transport. Restoring the money economy and giving people incentives to work revived agricultural and some industrial production, bringing in revenue for the state and reducing famine and discontent. The other policies listed came later in different eras (Five-Year Plans under Stalin, Perestroika and Glasnost under Gorbachev), so they’re not the policy Lenin implemented.