Comparative Economic Systems

From the 1950s through the 1980s, university economics departments in the United States commonly offered a course in Comparative Economic Systems. The course primarily compared capitalism with socialism, and these courses rapidly disappeared after the collapse of the Berlin Wall in 1989. Perhaps it is time to bring them back.
The Comparative Economic Systems courses taught in the second half of the twentieth century tended to be relatively friendly toward socialism, because academic economists tended to think that economic planning done by experts (in other words, people like themselves) could allocate resources more rationally than when resource allocation was left to

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