The Soviet Union 'died of ignorance' because, lacking a price system, it could not know what anything should cost, leading to a manufacturing process of 'value subtraction' in which it produced goods (e.g., shoes) worth less than the materials that went into them.

causalpending

Speaker

George Will

Evidence Quote

The Soviet Union died of ignorance... it not having a price system, it couldn't know what anything should cost.

Source

George Will on America, Politics, and Baseball 2/28/2011EconTalk
Created: 6/15/2026, 9:26:54 AM

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