On the problem of New Economic Policy, Trotsky put forward a series of important economic thoughts in the inner-party debates before and after Lenin’s death, which not only reached a considerable consensus with Lenin, but also had different emphases. Trotsky stressed that the New Economic Policy should focus on the development of large state-owned industry, which would balance industry and agriculture and subordinate capitalist factors to socialist factors. And because the state-owned industry was treated as the center, the status of “an integrated plan” was emphasized. Trotsky and Bukharin put forward two opposite ideas on economic development. After 1928, Stalin’s “super industrialization” and forced agricultural collectivization were not only quantitatively different from Trotsky’s progressive policy, but also qualitatively different. Trotsky was not a “prophet”, and there were serious blind spots in Trotsky’s vision. However, his thought of industrialization, the thought of planned economy based on workers’ democracy, and the thought that the industry should be the hub to curb class differentiation and realize the balance between industry and agriculture are not only very valuable developments of classical Marxism, but also enlightening to the present practice of socialist countries.