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Nationalisation of Industry - Coggle Diagram
Nationalisation of Industry
Lenin wanted to build socialism. This meant the state needed to have control of the economy.
Lenin's ideology
Lenin wanted to modernise the economy because socialism required a highly advanced economic system.
He also wanted to create a more stable economic system.
Ultimately, Lenin and the Bolsheviks wanted to destroy capitalism.
He believed the socialist economy would be more efficient and would lead to the end of inequality.
Lenin had to balance this ideology with meeting pragmatic needs.
Nationalisation
March 1918: Nationalisation began very early in the Bolsheviks' rule.
It was a core economic policy.
This meant that the state took control of industry.
State capitalism
March 1918: Lenin brought in state capitalism.
he saw state capitalism as a way to move from capitalism to communism.
Part of this involved moving ownership of large industries from capitalists to the state.
Vesenkha
To create a more efficient economy, Lenin centralised control of industry under the Vesenkha.
Vesenkha brought back worker discipline, with higher pay from the most productive.
These bodies also appointed specialists to run factories.