The first edition of this seminal book in 1971 pointed out the fatal defects of Marxist theory that would lead to the collapse of the Soviet economy. In this revised edition, Paul Craig Roberts examines how reality triumphed over Marxist theory and the implications for the future of Russia and eastern Europe. In 1971, Roberts created a firestorm among professional Sovietologists by proclaiming that the economies of the USSR and its East Bloc allies were doomed because their planned economies were, in reality, anything but planned. Expanding on his original ideas, Roberts demonstrates in this book the fatal shortcomings of Marxist economies, ranging from misallocation of resources to ersatz capitalistic concepts grafted onto a system that calls for production without regard to profit. Roberts argues that the economies of the nations emerging from the USSR's collapse must grasp the profound truths in this book if they are to become viable.
- ISBN10 0841912483
- ISBN13 9780841912489
- Publish Date 1 December 1990 (first published 1 January 1990)
- Publish Status Out of Print
- Out of Print 19 October 2003
- Publish Country US
- Imprint Holmes & Meier Publishers Inc
- Edition 2nd ed.
- Format Paperback
- Pages 150
- Language English