Turning Point

The authors, two Leninist economists from the (then) Soviet Union, drive the last nail into the coffin of central economic planning, also known as the command economy. While still favoring Socialism (collective ownership of the means of production; as in Lenin's New Economic Policy of the middle 1920's), they point out in great detail why individual enterprises and individual workers must be free to make their own decisions in the marketplace. Countless examples illustrate the folly of one-size-fits-all regulation. The book shows how the Soviet economy, then one of the world's largest, was essentially reduced to operating on a barter basis for wholesale (what are now called Business-to-Business) transactions.It will greatly temper expectations of what can be accomplished by, and the price to be paid for, government intervention into the economy, whether done from Moscow or (for example) Washington, D.C.