A vehicle for venting on philosophy, religion, and the general state of things. Proprietor: C. W. Powell

Saturday, October 11, 2003

Book Review: Basic Economics by Thomas Sowell: "The Soviet Union did not lack for resources, but was in fact one of the most richly endowed nations on earth. What it lacked was an economic system that made efficient use of scarce resources. Because Soviet enterprises were not under the same financial constraints as capitalist enterprises ... they were not forced to economize - that is, to treat these resources as both scarce and valuable in alternative uses."
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