Abstract

V.I. Lenin (1870–1924) was an eminent theorist and practitioner who applied and developed Marxism in Russia’s specific historical conditions. Following the October Revolution, Russia’s socioeconomic conditions required considerable creativity in applying Marx’s theory of socialist revolution. Lenin emerged as a historical figure both called for and shaped by the undertaking of building the world’s first socialist society. His New Economic Policy (NEP) introduced numerous innovative economic measures that contributed significantly to Russia’s economic and cultural recovery and development after the revolution. The NEP also has considerable international significance for countries pursuing a socialist orientation today.

Keywords: Multi-sector economy, NEP, tax in kind.