The Russian revolution may have gone wrong, but every subsequent socialist economy
has also gone wrong.
China calls itself a socialist economy
but its Gini ratio is now as high as the US," he said, referring to a globally comparative measure of inequality.
Mises and Hayek showed how managers in a socialist economy
would always lack the necessary incentives and information to make efficient decisions.
It remains to be seen whether the powerful Cuban state is prepared to allow these businesses to expand and partner with state entities, creating a hybrid market socialist economy
that can accelerate growth;
Most of these SOEs were nationalised in 1974 by the then Prime Minister Zulfikar Ali Butto as his plan to turn Pakistan into a socialist economy
In Business Destinations' cover story, Rita Lobo interprets the ever-changing socialist economy
of Cuba under new leader Raul Castro.
The mobile phone service in Algeria is very bad and all means of modern communication are from the stone age, because the Soviet model of a socialist economy
exhausted Algeria's own economy.
Certainly, the Polish experience of nation building had its challenges of invasions, survival and rising independence ever since its existence back in the 10th century; but for those of us who share the passion of trying to understand the triggers behind successful stories of reform and development, I believe that the recent 23-year-old Polish experience of transforming itself from being a country controlled by a socialist economy
to becoming one that is democratic, market-oriented and robust -- is an experience worthy of mention.
As part of Cuban leader Raul Castro s program to modernize the country s socialist economy
, bank loans have become available to individuals since December.
In fact, with one eye on the 2014 general elections, Karat has even gone to the extent of saying that his party may consider support for Congress after the next Lok Sabha (parliamentary) polls, provided Rahul Gandhi makes his socialist commitments known in as many words and the Congress embraces a socialist economy
Even those sympathetic to Allende's regime admit that Chile's socialist economy
was a crashing disaster; those who deplore Pinochet's rule must concede that the substantially capitalist economy is working, and working well.
His two Socialist Economy
and Energy Ministers, Rumen Ovcharov and Petar Dimitrov failed to sign the contract.