They believed in economic freedom out of two reasons. One was that each person should have the right to manage their property and resources as they see fit, and the other being that they believed that if governments imposed their will on the market it would lead to tyranny and oppression since the government could become a monopolistic one and bother the people.
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Bloody Sunday in 1905 and the Russian defeat in the Russo-Japanese War both helped lead to the 1917 revolution. After taking over, the Bolsheviks promised 'peace, land, and bread' to the Russian people. In 1917 Lenin returned to Russia from exile with German help.
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John F. Kennedy declared that the torch has been passed to the new generation of Americans