The video discusses Russia's New Economic Policy (NEP) following the civil war, focusing on the revolts of the 1920s and the impact of the NEP on Lenin and the Bolshevik party. It highlights the characteristics of the NEP, including the shift to a mixed economy, denationalization of smaller factories, and the end of grain requisitioning.

Exploring the economic development post-1921 in the Soviet Union, focusing on the revolts of the 1920s and the introduction of the New Economic Plan (NEP). The revolts, such as the Tambov Revolt and Kronstadt Rising, highlighted the need for a new economic policy to address the aftermath of the Russian Civil War.

The chapter discusses the distinction between nationalization and privatization in economic policy, using examples like the UK's NHS as a nationalized industry and privatized sectors like agriculture. It explores the concept of a mixed economy and the impact of Leninist socialism on industries.