What heavy industrial work, if any, was done in USSR 1923-1927?
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As mentioned in the comments, GOELRO - State Plan for Electrification of Russia - was officially adopted on 1920-12-22. (Incidentally, the preparations started even before the revolution).
It was not as ambitious as the 5y plans for several interrelated reasons:
- No local money: the Civil War was devastating
- No foreign money: Bolsheviks repudiated Czar's foreign debts, so foreigners did not want to invest in Russia (and 1920ies was a boom time in the West)
- The Bolsheviks did not consolidate their power in the society yet - many people still hoped for their collapse
- The Bolshevik party itself was highly heterogeneous and different factions fought over the correct economic policy
By 1928
- The NEP fed Russia - the "kulaks" could be robbed to get money internally.
- OGPU suppressed all popular dissent
- Intra-party factions (L, U) were largely suppressed, Stalin consolidated his power with help of Buharin, Rykov, Tomsky &c
This made it possible for Stalin to launch Collectivization and Industrialization (and get rid of Buharin et al in the process).
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