"Reveals why central planning failed. This classic book provides the intellectual bridge between our past and our future." -- Yuri B. Kochevrin, member, Economic Institute, Russian Academy of Sciences. "Should be used as reading for Soviet economic courses ... A must for every library with interests in Soviet affairs." -- Choice. "For experts and non-experts alike who wish to understand the theoretical Marxian framework within which Soviet economy grew and declined." -- Zbigniew Brzezinski, former National Security Advisor.Vom Verlag:
The first edition of this seminal book in 1971 pointed out the fatal defects of Marxist theory that would lead to the collapse of the Soviet economy. In this revised edition, Paul Craig Roberts examines how reality triumphed over Marxist theory and the implications for the future of Russia and eastern Europe. In 1971, Roberts created a firestorm among professional Sovietologists by proclaiming that the economies of the USSR and its East Bloc allies were doomed because their 'planned' economies were, in reality, anything but planned. Expanding on his original ideas, Roberts demonstrates in this book the fatal shortcomings of Marxist economies, ranging from misallocation of resources to ersatz capitalistic concepts grafted onto a system that calls for production without regard to profit. Roberts argues that the economies of the nations emerging from the USSR's collapse must grasp the profound truths in this book if they are to become viable.
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