---
title: "New Economic Policy Definition | Model Diplomat"
description: "The New Economic Policy (NEP) was Lenin's 1921 program restoring market mechanisms in Soviet Russia after War Communism's failure. Key for civil services."
url: "https://modeldiplomat.com/learn/glossary/new-economic-policy"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- The New Economic Policy (NEP) was Lenin's 1921 economic programme that partially restored market mechanisms and private trade in Soviet Russia after the failure of War Communism.
- How did the NEP differ from War Communism?
- Why was the NEP introduced in 1921?
- When and why did the NEP end?
- Who were the Nepmen?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

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In March 1921, Lenin presented the New Economic Policy to the Tenth Party Congress, replacing forced grain requisitioning with a tax in kind to quell peasant revolts and the Kronstadt mutiny.

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