From Recuperation to Reconstruction, 1922–1929

In Soviet economic history, the mid-1920s are regarded as years of elemental discussion, with economists and Party leaders debating the best route to follow after the relatively easy return to the 1913 levels of production had been achieved. The acceptance of the First Five-Year Plan, which confirmed the USSR on its course of rapid industrialization, did not occur until 1929. Until then, in all parts of the economy, there was an odour of uncertainty, if not of unreality, in policy-forming departments.