Lenin's economy, 1918-21 Flashcards
What did Lenin, like all Marxists believe an economic revolution was essential to doing?
building socialism
What does the term ‘building socialism’ mean?
The process of building a new, more equal economy and society.
Summarise some of Lenin’s economic objectives.
Modernisation
Consolidation
Military victory
Destroying Capitalism
Why was one of Lenin’s economic objectives modernisation?
Believed Socialism required the construction of a highly advanced economy.
Why was one of Lenin’s economic objectives consolidation?
Needed economic stability to help retain his hold on power.
Why was one of Lenin’s economic objectives military victory?
Needed the economy to supply the Red Army during the Civil War
Why was one of Lenin’s economic objective destroying Capitalism?
Wanted to create an economy that was more efficient than Capitalism and ended inequality
Often what did Lenin have to put immediate pragmatic goals above?
Long-term ideological goals
What are pragmatic policies?
Policy which is designed to achieve specific results, rather than to reflect certain values.
They are often contrasted with idealistic policies.
What was one key problem facing Lenin, in regards to Marx and the economy?
Marx had not set out a detailed description of how a Socialist economy would work.
What did Marx argue a Socialist economy would be?
Highly advanced
Organised according to ‘a common plan’
Why did Marx not set out a detailed description of how a Socialist economy would work?
Argued that it was impossible to describe the future in detail.
From what date did Lenin begin the nationalisation of industry?
March 1918
Define Nationalisation.
The process by which private property is taken over by the state.
Between what dates was nationalisation at the heart of Lenin’s economic policy?
1918 to 1924
What is State Capitalism?
A political system in which the state has control of the production and the use of capital.
When did Lenin introduce State Capitalism?
March 1918
What did Lenin argue State Capitalism was?
Economic phase between capitalism and socialism
What was State Capitalism based on?
Nationalisation of large-scale industry
How does nationalisation end capitalism?
Passes ownership of industry from capitalists to the new state
Why did Lenin hope nationalisation would lead to greater efficiency?
The government could then employ experts to run the economy
Who was control of the nationalised industries centralised by?
Vesenkha
What is the Vesenkha?
Superior state institution for the management of the economy