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Predictions of the dissolution of the Soviet Union
Posted on: June 19, 2018 at 16:11:27 CT
pickle MU
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https://en.m.wikipedia.org/wiki/Predictions_of_the_dissolution_of_the_Soviet_Union
Ludwig von Mises
The Austrian economist Ludwig von Mises argued in his 1921 book Socialism: An Economic and Sociological Analysis that the Soviet system was unsustainable and would eventually collapse. This book was published months before Lenin implemented the New Economic Policy reintroducing partial private property in agriculture. Mises' analysis was based on the economic calculation problem, a critique of central planning first outlined in 1920 journal articles. His argument was that the Soviet Union would find itself increasingly unable to set correct prices for the goods and services it produced:
We may admit that in its initial period a socialist regime could to some extent rely on the preceding age of capitalism [for the purpose of determining prices]. But what is to be done later, as conditions change more and more? Of what use could the prices of 1900 be for the director in 1949? And what use can the director in 1989 derive from knowledge of the prices of 1949?
Edited by pickle at 16:12:05 on 06/19/18
Ludwig von Mises
The Austrian economist Ludwig von Mises argued in his 1921 book Socialism: An Economic and Sociological Analysis that the Soviet system was unsustainable and would eventually collapse. This book was published months before Lenin implemented the New Economic Policy reintroducing partial private property in agriculture. Mises' analysis was based on the economic calculation problem, a critique of central planning first outlined in 1920 journal articles. His argument was that the Soviet Union would find itself increasingly unable to set correct prices for the goods and services it produced:
We may admit that in its initial period a socialist regime could to some extent rely on the preceding age of capitalism [for the purpose of determining prices]. But what is to be done later, as conditions change more and more? Of what use could the prices of 1900 be for the director in 1949? And what use can the director in 1989 derive from knowledge of the prices of 1949?
Edited by pickle at 16:12:05 on 06/19/18
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Predictions of the dissolution of the Soviet Union - pickle MU - 6/19 16:11:27