Dec 6, 2007

Paul Samuelson on the Soviet model (1985)

What counts is results, and there can be no doubt that the Soviet planning system has been a powerful engine for economic growth. . . . The Soviet model has surely demonstrated that a command economy is capable of mobilizing resources for rapid growth.

~ Paul Samuelson, Massachusetts Institute of Technology, Nobel laureate in economics, Economics, 1985 edition of his widely used textbook

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