What: A set of economic policies and measures implemented by the Bolsheviks in 1921, aimed at rebuilding the Soviet economy after the devastation of the Civil War. Why significant: The NEP was significant because it represented a shift away from the command economy and towards a more market-oriented system. It involved the reintroduction of private enterprise, the lifting of restrictions on trade, and the decentralization of economic decision-making. The NEP allowed for the recovery of agricultural and industrial production, and enabled the Soviet Union to become a major industrial power. The NEP also had significant political and cultural implications, as it allowed for greater social and cultural diversity, and the emergence of new forms of artistic expression and political debate. Decade/era: 1921-1928

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