Source: Foundation for Econommic Education
by Alex Tokarev & Kristin Tokarev
“On October 12, 1960, Soviet Premier Nikita Khrushchev pounded his shoe on the podium during a speech at the United Nations General Assembly, yelling at the capitalist countries: ‘We [the socialists] will bury you!’ Within 30 years, socialism, not capitalism, was dead and buried in Eastern Europe. The USSR disappeared from the maps. Why was the Russian leader so confident in the victory of Marxism? Why was his prediction so wrong? The answer lies in the nature of socialism as a way to organize production and exchange. Capitalism relies on entrepreneurial profit-seeking and market price signals. Socialism relies on benevolent controls and the wisdom of experts.” (09/17/26)
https://fee.org/articles/the-graveyard-of-eastern-european-socialism/