To administer these economic changes, he created an agency called the Gosplan, which decided upon every detail of the economy. This agency determined how much product a company could produce, the wages for all workers, and the prices of all goods. Through conscious management, the government took control of the resources and workforce, therefore creating a true communistic economy. In a speech in 1929, Stalin stated, "We are becoming a country of metal, a country of automobiles, a country of tractors. And when we have put the USSR in a motorcar and the muzhik in a tractor, we shall see which countries may then be classified as backward and which as advanced "1. His words show how similar to Peter the Great's desire for Russia to be westernized, Stalin wanted the same thing and he went about this by industrializing Russia. Through this process of rapid industrialization, along with the absence of more foreign loans, the USSR built up capital wealth. Using the Industrial Revolution of Great Britain as a example, Stalin caused a agricultural revolution by his process of collectivization, which created collective farms owned by the government and farmed by peasants. .
Stalin's Five Year Plan produced a rate of industrial growth during the first two decades of its implementation that was unrivaled by any country in all of history. The collectivization made this success possible because it augmented the supply of laborers in Russia while also creating rapid urbanization. In A History of the Modern, R.R. Palmer wrote, "In the USSR from 1928 to 1938, production of iron and steel expanded four times and that of coal expanded three and half times "2. These statistics further show that Stalin's Five Year Plans allowed for the USSR to blossom into a industrialized country in record time. This massive growth allowed for the USSR to gain respect and credibility from the West, which was one of Stalin's most important underlying motives.