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Red Plenty

  • Dec 2, 2012 · 5:00 PM
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"Мы вас похороним!" - Nikita Khrushchev

Today we will examine the calculation problem - the difficulty of allocating scarce resources in a planned economy, i.e., without the use of markets and prices.

Socialist economic intellectuals realized that, if socialism was to prevail against capitalist ideas, socialism must produce more prosperity and abundance of goods. Can economic planning performed by experts, coupled with the enlightened socialist worker, do better than the market?

When Khrushchev said "We will bury you!", he explained that it was not intended to threaten nuclear war, but that the socialist system will inevitably prevail over capitalism. Let's see how well this works .

Video:

Complete History of the Soviet Union to the Melody of Tetris - https://www.youtube.com/watch?v=hWTFG3J1CP8

Listenings:

Calculation and Socialism - Salerno - https://mises.org/media/6521/Calculation-and-Socialism

Readings:

Red Plenty - http://redplenty.com/Front_page.html

Economic Calculation in the Socialist Commonwealth - Mises - https://mises.org/document/448/Economic-Calculation-in-the-Socialist-Commonwealth

A World Become One - Chapter 10 - Economics for Real People - https://mises.org/document/2031

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