Apiary Fund Blog

Trading History: 98 Years Ago - NEP

[fa icon="calendar'] Mar 21, 2019 5:38:00 AM / by Lukas MacMacKen posted in World Economy, Trading History

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Back in 1921, the Soviet economy was failing. Hardships from internal and external war was running a toll on all aspects of the economy. Vladimir Lenin proposed a plan 98 years ago today, called the “New Economic Policy” (NEP). This was proposed near the end of the Russian Revolution where the leading Bolshevik party was running the country on the economic principal of “war communism”, or basically, anything that was more than the bare minimum for citizens was to be given to the government for the war. This War Communism was not an exceptionally popular economic method and when the New Economic Policy was proposed, it was widely more popular, especially with the farming towns in the South.

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