Central planning failed in the USSR, but central banks have revived it

Mises Institute/Vitaliy Katsenelson/9-19-2018

“If all Russian housewives (and house-husbands) had decided to go on an apple-pie diet and started baking pies for breakfast, lunch, and dinner, sugar demand would have increased but the prices still would have been 96 and 104 kopecks. As a result, we would have had a shortage of sugar — a common occurrence in the Soviet era.”

USAGOLD note:  Highly recommended.  A good read from someone who experienced first-hand the ill-effects of a centrally planned economy.

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