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Marxists, such as Richard Wolff, insist that Marxist socialism worked very well in the Soviet Union. They say the Soviet Union failed for other reasons.
Oh really? Should we believe that socialism is viable?
I think the "success" of the early Soviet Union was an illusion. The Communist party had taken all the wealth and land from the previous rulers. And they had control of all the natural resources. Even with a corrupt and inefficient command economy, it was hard to fail in the beginning. They were able to imitate the USA and copy our inventions.
But eventually the economy stagnated. There was no innovation, no creativity.
And the system was utterly impractical. A market economic system is a huge computer, that determines wages and prices automatically. The Soviets had to figure all that out for themselves. And of course they couldn't.
And corruption was a much bigger problem under communism than under capitalism, because of the complete lack of competition.
Oh really? Should we believe that socialism is viable?
I think the "success" of the early Soviet Union was an illusion. The Communist party had taken all the wealth and land from the previous rulers. And they had control of all the natural resources. Even with a corrupt and inefficient command economy, it was hard to fail in the beginning. They were able to imitate the USA and copy our inventions.
But eventually the economy stagnated. There was no innovation, no creativity.
And the system was utterly impractical. A market economic system is a huge computer, that determines wages and prices automatically. The Soviets had to figure all that out for themselves. And of course they couldn't.
And corruption was a much bigger problem under communism than under capitalism, because of the complete lack of competition.