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Articles posted on Friday, September 21, 2012

Was Central Planning Really Inefficient? - Why Nations Fail - Why Nations Fail by Daron Acemoglu and James Robinson

Friday, September 21, 2012
Category: Economics

From whynationsfail.com

Though the Soviet Union does not do as well as Japan, it does better than the non-OECD countries which were as poor as it was in 1928 when its first Five Year Plan took effect. It’s true of course that Soviet industrialization involved the forced collectivization of agriculture which created huge hardship and even deadly famine in the early 1930s, and was also based on the suppression of consumption in order to accumulate capital.

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