Perestroika worked perfectly, as intended. It's just some fools didn't understand that they were no longer people, but workforce. Real people are living better than before. I.e. misson accomplished. Hopefully, not that will not last and we'll get to deal with the real people traditional way sooner rather than later.
"Soviet system" never existed.
Even if we don't include War Communism/NEP/Gorbachev reforms, there was Stalinist economy and Khruschev-Brezhnev economy. Two very different animals. It's a clear mistake to lump them both together and pretend that there is no difference.
> jacobinmag.com/2012/12/the-red-and-the-black/
Since author talks about post-WWII, I assume he is talking about Kruschev-Brezhnev system.
I'll comment relevant high points:
Correct.
Reason for the fall of Second World is political, not economical. Any analysis that tries to do it via economy alone is doomed to fail. Which is exactly what happens later, when author attempts to fit square peg into round hole, thinking that twisting it harder than the previous economists did, will be enough.
False. Stalinist economy had non-state enterprises (co-ops). In fact, significant part of Soviet electronic goods (pre-war TV sets) was produced by those enterprises.
Situation changed in late 50s, when Party went full revisionist (pardon for meme, but that was actually the case) and nationalized co-ops, greatly limiting private initiative and giving birth to this "prevailing presumption". I.e. even USSR for more than half of it's existence did not fit this description of planned economy.
Someone went full retard.
First and foremost - anyone anywhere can seek resources. The question is whether or not he will obtain any. Yes, that's semantics, but it's exactly the question of obtaining resources that author skillfully avoids. Is this truly the case? I'm not certain.
Second problem is the (false) assumption that planned economy has only one single authority and getting refused by it means the end of the story. There is no "veto" (unless we are talking really high investment cost - which will collapse situation tosingle veto in any system). There are dozens of institutes and semi-independent organizations that might decide to fund the innovation or test it. Competition is actually a thing in a planned economy. Constant underperformance will eventually bring attention from (populist) government and hidebound administrator will soon find himself reassigned to Kamchatka. On the other hand, success means promotion.
As a result we get completely wrong conclusion that clearly contradicts reality. See below.
We are talking about USSR that went from medieval and war-torn economy of Imperial Russia, got through embargoes from technologically advanced nations and WWII, but managed not only defeat Reich, but also get Sputnik and Gagarin.
That's clearly not a constantly higher rate for free market.
> The ultimate answer was the absence of a capital market. In a market economy, a troubled firm can sell part or all of its operations to another firm. Or it can seek capital from lenders or investors, if it can convince them it has the potential to improve its performance. But in the absence of a capital market, the only practical options are bankruptcy or bailouts.
This is part when you simply need to stop. There is no point reading further.
Either author has absolutely no idea how planned economy works (and is therefore incompetent to make any judgements) or is deliberately misrepresenting situation (and is therefore a propaganda mouthpiece unworthy of attention).