Make sure to back up your answers with evidence. *MINIMUM OF 2 PIECES OF EVIDENCE PER QUESTION* Critical Thinking Questions 1.Describe the course of nationalization in economic development in the...

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Title: Critical Questions
1.
In the year 1921, the economic situation Russia was completely ravaged by the effects of Communism. Socialism had not begun on a good note, and It was due to the ensuing concern meted out by Vladimir Lenin who was concerned about the unfortunate state concerning the economy (Rees). The New Economic Policy came out as his response to the poor economy was adopted and replaced the economic policy that was previously imposed by Czar.  It was implemented solely for prospering the economic scenario. Since, the situation of the free-market style concerning economics. It was believed that the situational function of this policy can lead to possessing a capitalist economy, this will automatically disrupt the socialist priority. However, the original plan was to have capitalism in place for the attainment of socialism (Takeo).
2.
The situational hazards came as a kind of massive recession that ravaged the country. The causes for this grotesquely vivid phase are provided as follows:
· Crashing of the stock market in the year 1929
· The Roaring twenties led to a widespread employment but not in the rise of the wages of the workers, and thereby led to the inequality in income (Mozaffarian).
· The purchasing power was reduced across the board
· Introduction of the Smoot Hawley Tariff in the year 1921
The consequences led to a rise in the unemployment that reeked of a position, which stood opposed to the typical, bourgeoisie’s milieu of utilitarian ethos (Haroon). It also resulted in a situation...