The Economic and Social Revolution

Abstract

Transforming a capitalist into a socialist economy can never be a simple task. Lenin and the Bolsheviks were the first to attempt it. There were no blueprints as Marx had not devoted much time to thinking about a future socialist economic structure. Given the fact that the Bolsheviks disagreed among themselves as to the form the new soviet economy was to take, Lenin counselled caution and was willing to allow industry to continue functioning, more or less, along the old lines provided management was under soviet supervision. Radicals, such as Bukharin and Preobrazhensky, wanted nationalisation on a massive scale. Workers had their own ideas and since many of them did not wish to follow the Bolsheviks, there was bound to be dissent.