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Meaning of New Economic Policy

New' Econom'ic Pol'icy

Pronunciation: [key]
  1. (in the Soviet Union) a program in effect from 1921 to 1928, reviving the wage system and private ownership of some factories and businesses, and abandoning grain requisitions.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.