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Nationalisation of Industry - Coggle Diagram
Nationalisation of Industry
Measures in place
key measures of
Lenins
economic policy :
Oct 1917
Land Decree
- abolished private ownership of land
→ supposed to be in the hands of
'the people'
Nov 1917 Decree on workers' control
- control of factories into hands of industrial workers
27 Dec
- Private banks
Nationalised
→ state bank further combined w/
Peoples Bank of the Russian Republic
Results of Lenins Measurements
gave considerable power to
workers & peasants
Did have detrimental effect on economy :
Workers' council
gave themselves
pay rises
- did little to help production and therefore led to
inflation
managers often dismissed
those w/
industrial & technical expertise
removed by workers
Dec 1917 Supreme Council of National Economy
- to help deal w/ supervision of economy
Before Measures
→ transitional phase termed
State Capitalism
Lenin talked of working w/ Bourgeoisie until Bolshevik experts could take their place
Bolsheviks wanted to see production in
proletariats
hands but
Bourgeoisie
had expertise in
management & technical skills
no plan to get from capitalism to communism - have to be achieved through
trial & error
General Info
Stalin
was to launch
FYP & collectivisation of agriculture
Bolsheviks believed economy should be in hands of
workers & peasants
Dilemma was how to restore economy & long term how to modernise an inefficient industrial & agriculture system
→ damaged by WW1 & Civil war that followed
Oct 1917
- Bolsheviks took over Russia w/ economy in chaos
→ 1929 policies were to transform SU but only after Stalin DIED the focus of economic policy changed