New Economic Policy

American  

[noo ek-uh-nom-ik -pol-uh-see, ee-kuh-, nyoo] / ˈnu ˌɛk əˈnɒm ɪk ˈˈpɒl ə si, ˌi kə-, ˈnyu /

noun

1. (in the Soviet Union) a program in effect from 1921 to 1928, reviving the wage system and private ownership of some factories and businesses, and abandoning grain requisitions. NEP, Nep, N.E.P.

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New Economic Policy British  

noun

1.  NEP.  an economic programme in the former Soviet Union from 1921 to 1928 that permitted private ownership of industries, etc

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Example Sentences

What was a result of the New Economic Policy?

From Textbooks • Dec. 14, 2022

Beginning in 1928, Stalin ordered a definitive break with the limited market exchange of the New Economic Policy, announcing a “Great Turn” towards industrialization, state-controlled economics, and agricultural reorganization.

From Textbooks • Jan. 1, 2020

He was a decade older than Gorbachev, brought up in an intelligentsia circle in 1920s Moscow during the comparatively liberal years of Vladi­mir Lenin’s New Economic Policy, before Stalin came to power.

From Washington Post • Mar. 15, 2017

These works were generally commemorative, marking the successes of Lenin’s New Economic Policy or Stalin’s Five Year Plan.

From New York Times • Apr. 10, 2011

At the Tenth Congress in 1921, Lenin introduced the New Economic Policy, which for a time allowed the peasants to sell their produce on a free market.

From Time Magazine Archive