Tag Archives: capitalism

AFTER THE PEACE with Germany, Lenin had hoped for a breathing spell which would give him the chance to build up his backward country. Instead, there had been civil war and it left Russia worse off than ever. Although the government had taken over all the industries, they were producing very little. A way had to be found to give the people the necessities of life, especially food. To do this, Lenin proposed to put into effect something he called the New Economic Policy, soon known as NEP. While large industries would remain in the hands of the state, small …

WHILE INDUSTRY was transforming the United States, the same thing was happening in Western Europe. The change was most noticeable in Germany, because Germany was not unified until 1870, it started to become industrial much later than Great Britain and France, but it soon began to catch up with its neighbours. Within a few decades it was producing more than they were of several key commodities, including the most important one of all, steel. Like the American government, the German government imposed tariffs on foreign manufactures and encouraged its national industry in other ways. The results were much the same …