State Capitalism 1917

Question 1

What was state capitalism?

Answer 1

The transitional phase from the old bourgeois economy to a new protelatarian one

Question 2

What were the political features of state capitalism?

Answer 2

Land Decree
—> abolished private property
• pleased peasants (80% pop)

Workers decree
—> gave workers control over factory
• pleased workers

However Trotsky was against it
—> divisions in party

Question 3

What were the social features of state capitalism?

Answer 3

• Peasants and workers hours decreased & wages increased

• Little change in day to day life
—> Policy lasted (match to June 1918)

• Workers were unhappy and managers were dismissed
—> Production worsened

Question 4

What were the economical features of state capitalism?

Answer 4

• Banks nationalised
—> Vesenkha (supreme economic council) created that controlled banks
—> Annoyed France

• Industry nationalised
—> only big ones

• Inflation increased
—> 400% per month

Question 5

What were the ideological features of state capitalism?

Answer 5

• Banks nationalised

• Abolished private ownership

—> Key features of socialist state

Question 6

Overall how successful what state capitalism?

Answer 6

6/10

Good ideologically
Bad economically and socially
Ok politically