Introduction. The relevance of the topic is due to the importance of studying the mechanisms of industrial modernization in the 1920s – 1930s in comparison with the modern period of modernization taking place in the conditions of the information society. The experience of early Soviet industrial modernization can be useful in today’s difficult geopolitical conditions in which the next technological transition takes place. Materials and Methods. The study is based on the theory of modernization, taking into account the development of the economy, technology and the socio-cultural sphere. The formation of one of the enterprises of the optical-mechanical industry of the USSR is considered in the context of industrialization in the optical industry. The combination of macro- and micro-historical perspective of the study made it possible to study the phenomenon of industrial modernization at different levels. Results. In the development of the plant “Geophysics” in the 1920s – 1930s the processes of industrial recovery during the years of the NEP and the features of the Soviet industrialization were reflected. The dynamics of the plant’s development during the first five-year plans is impressive. In terms of technology, the plant moved to the third technological order. The plant began production of sophisticated optical instruments for defense purposes. The mechanisms of the planned economy harmoniously combined with the process of industrial modernization. Discussion and Conclusions. The features of “Stalin’s industrialization” were: a forced character; borrowing imported technologies with adaptation to domestic production; military sector priority. The problems of the first five-year plans (increased planned commitments, limited capital investment, overtime work, shortage of materials, interruptions in the supply of imported equipment, shortage of qualified personnel) were solved with the help of administrative resources, the reliance of the enterprise on internal reserves, the enthusiasm of workers and non-economic incentives, socialist competition, advanced training and a progressive bonus system of remuneration.
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