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- W2488123936 abstract "The Stalinist system of political economy began life in the Soviet Union during War Communism (1917–21). It was the antithesis of capitalism, based on the heroic belief that a better performing and fairer economy could be created by direct administration rather than the market mechanism: ‘Our superiority lies in the fact that we do not experience any crises of overproduction; we have not and shall not have millions of unemployed; we have no anarchy in our production because we have a planned economy’ (Stalin, quoted in Zaleski, 1971, p. 11). This model, in which the whole economy was regarded as a single enterprise, was applied in fundamentally the same form in all the communist countries. These stretched from the sophisticated economies of Hungary and Czechoslovakia to the low-income countries such as Laos and Vietnam. All these countries learned their economics from the USSR. The experience of many decades has demonstrated that there are fundamental flaws with the Stalinist model. The ‘magic whip’ of competition is essential for an effectively functioning economy. There is no sizeable constituency virtually anywhere in the former communist world for a continuation of the directly administered economy." @default.
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- W2488123936 date "1993-01-01" @default.
- W2488123936 modified "2023-09-27" @default.
- W2488123936 title "Reforming Stalinist Systems: The Chinese Experience" @default.
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