The New Economic Policy (NEP), introduced by Vladimir Lenin in 1921, aimed to revitalize the Soviet economy after the devastation of the Russian Civil War. It marked a significant shift from War Communism by reintroducing limited market mechanisms, allowing small private enterprises, and promoting agricultural production through a system of taxation instead of requisitioning. The NEP successfully stimulated economic growth, increased agricultural output, and improved living standards, but it also led to tensions within the Communist Party regarding the direction of socialism in the Soviet Union. Ultimately, the NEP was abandoned in the late 1920s in favor of more centralized planning and industrialization policies under Stalin.
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