Thanks, I've created the account just to say the same: the author never bothered to read Hayek. I imagine Hayek (as many other economists) would object to that

Thanks, I've created the account just to say the same: the author never bothered to read Hayek. I imagine Hayek (as many other economists) would object to that by saying that the resource allocation under centralized rule is inferior to that of free market because of failure of central planner to account for individual preferences, which manifest themselves easier in a capitalist market. Now, whether we should optimize for individual preferences as opposed to some other common noble goal - e.g. building communism - is another question. But I think everyone would agree that central planning could lead to some excesses (collectivization, starving Ukrainian peasants to death, Chinese ghost towns come to mind). P.S. The author writes: "I thought ten percent was the normal growth rate of communist economies: why would you care to become communist if you would not grow faster than under capitalism?" Not sure if it's urban legend, but I remember reading how many Western observers were surprised by collapse of Soviet economy since communists always boasted high rates of GDP growth. https://www.nytimes.com/2018/09/14/opinion/columnists/great-recession-economy-gdp.html https://www.nytimes.com/2018/09/14/opinion/columnists/great-... https://utopiayouarestandinginit.com/2015/01/24/paul-samuelsons-repeated-predictions-of-the-soviet-union-economy-catching-up-with-the-usa/ https://utopiayouarestandinginit.com/2015/01/24/paul-samuels...