Flashcards in Bolshevik Consolidation: Economic & Social Developments Deck (4)
• Lenin knew socialism could only develop in an industrialised society - Russia not one.
• State Capitalism - imposed degree of state control but retained elements of capitalism such as private markets.
Response to State Capitalism
• Many Bolsheviks disproved of any compromise with old capitalist system.
• They demanded radical change - nationalisation of all businesses, abolition on money.
• Lenin envisaged a long transition.
How did the Bolsheviks develop greater state control over the economy?
• Nationalisation of banks (Dec 17) and railways (June and Sep 18).
• Veshenka (Dec 17) - took responsibility for the regulations of economic life.
• GOELRO (1920) - organised production and distribution of electricity.