Written in a time filled with the gasps and death of the Soviet Union, and its satellites’ declarations of their independence, I found Alvin Rabushka’s “The Failure of Socialism in China” capturing my attention. In it, the author mentions the method that Mao Zedong attempted to use to incite the communist Chinese economy to grow – namely central planning. The author also illustrates why the planning did little to anything at all on its own in the way of economy-building or growth.
As many economists critical of socialist governments point out, central planning heavily relies on a number of measures, so that it can claim to function better than alternative forms of economies.
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