Recently by Gary North: Twin Deficits
This 1992 documentary, The Engineers’ Plot, is a history of Soviet central economic planning. Central planning did not work. This is a planned society that modeled its premier showcase city after Gary, Indiana. The video is a fine demonstration of the truth of Ludwig von Mises’ 1920 essay, “Economic Calculation in the Socialist Commonwealth.” Mises argued that the socialist system is irrational, because it cannot price anything rationally. You will especially enjoy the parade of marching working women in white dresses. This is a Busby Berkeley extravananza, Soviet style.
December 12, 2011
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