Reutern- minister of finance (1862-78) adopted approach that revolved around railway construction, attracting foreign technical expertise and as a result modernisation occurred both within the staple and the newer industries

Welshman JJ Hughes who transformed iron and steel production in Ekaterinoslav from 1871. by 1884 his company the NEW RUSSIAN COAL,IRON AND RAILMAKING INDUSTRY were the largest producer of coal in the empire

he also created new town Yuzovo with 32000 Welsh Russians

under Reutern railway track grew 7x from 1862-78

average 6% annual growth rate in railway under Reutern

Reutern secured foreign investment through government bonds, taxation and monopoly concessions

Bunge started the process that by 1911 69% was under state control

Peasant land bank created in 1883 allowed peasants to borrow money and buy land

Vyshnegradskii gained income by exporting more grain even when there was a domestic shortage lead to 1891 famine

Medele'ev tariff 1891 raised government revenues

coal production x2 and iron and steel production x7

in 1893 the industry had an income of 42 million roubles in 1897 this was almost 4x the amount at 161 million roubles

rouble was put on the gold standard to give foreign investors confidence in Russia

Collectivisation and De-Kulakisation from 1929 onwards

MTS were responsible for loaning out tractors to peasants, distributing seed, collecting grain and deciding what farmers could keep for their own consumption

5 year plans set targets in order for peasants to meet often were too high so workers lied about their output

decree on workers control meant that workers' committees were given extras power to run its factories

decree on land meant that peasants were given private land

over 30000 nationalised economic entities by 1920

the civil war of 1917-21 nullified any positive of state capitalism coal production fell from 29 million tonnes in 1913 to 8.9 million tonnes in 1921

militarisation of parts of labour to meet the needs of the war

forced requisitioning of agricultural produce during the war

virgin land campaign introduced in 1954 meaning new land could be farmed however due to poorly trained farmers and equipment and the quality of the land this was a failure

focus on consumer goods and light industry such as chemicals