By 1921, the failure of War Communism led to the New Economic Policy (NEP) , a temporary retreat toward a market economy to stabilize the country.
: When Lenin died in 1924, most of the institutions and practices that would define the later Stalinist era were already established. Russia Under The Bolshevik Regime
: The regime nationalized private banks and heavy industries, shifting the economy toward a socialist model. By 1921, the failure of War Communism led
Following the October Revolution of 1917, the Bolsheviks, led by Vladimir Lenin, moved rapidly to consolidate power and dismantle the structures of the Russian Empire . led by Vladimir Lenin