These are all good points. Perhaps it is time to inquire why did SU run an inefficient state-run economy for 40 years after the manic dictator was gone. Without going into too many details, the justification, even the imperative, for said policies was made in the moral dimension. As tragically exemplified by SU, there are policy systems that feed on failure. The more the policy fails to deliver the desired results, the more it's taken as evidence that the moral problem the policy purports to fix is actually deeper rooted and requires even more radical policies. Until you get to the point where the entire economic activity is controlled by the state because individuals, full of moral failings as they are, can't be trusted with charting their own course.
I have to say that my American friends have a much higher confidence in the pendulum theory. Coming of age near the end of a 40 (70?) year historical tailspin, I have a somewhat less optimistic view.
I have to say that my American friends have a much higher confidence in the pendulum theory. Coming of age near the end of a 40 (70?) year historical tailspin, I have a somewhat less optimistic view.