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That Time the Soviet Union (Grudgingly) Turned to Free Markets to Save Its Collapsing Economy | JW Rich

That Time the Soviet Union (Grudgingly) Turned to Free Markets to Save Its Collapsing Economy | JW Rich

The Bolsheviks were divided on why War Communism failed, but economics gives us a clear answer.Imagine an economy where there is no money. All currencies, mediums of exchange, and other intermediaries of trade no longer exist. Instead of having money, everyone is issued ration cards that dictate what goods they can have and in what quantities. Everything from food you buy to the clothes you wear to medicine you need are determined by your ration card. Imagine also that in this economy, there is no exchange. Everything is owned collectively and administered by the state. The production of...

Apr 11
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