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Lenin's New Economic Policy (NEP), introduced in 1921, aimed to revive the Soviet economy after the devastation of the Russian Civil War and War Communism. It sought to reintroduce limited market mechanisms and private enterprise, allowing small businesses and private farming to operate while the state retained control over major industries. The NEP was intended to stabilize the economy, increase agricultural production, and alleviate widespread famine and poverty, ultimately paving the way for further socialist transformation.

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