After theCrimean War (1853-1856), the Russian economy was left divested due to the damages associated with the war. At this period, Russia communist and Tsarist rulers came together and concluded that the only way that Russia could recover from the failing economy was through reforms. The reforms were instituted in Russia between 1855-1956 and were viewed by the rulers as an important tool to help the government rehabilitate the county’s economy. A good example of reform that played a major role in modernizing the economy of Russia was the implementation of the Emancipation Act that was put in place by Alexander II. The main push that saw the need of Russia making modern their economy was due to Russia’s continued failure in war throughout the period mentioned (1855-1964).