Over time, the Soviet Union developed a system of centralized planning that became synonymous with socialism. How did the system work? What did it get right? And why did it ultimately become so associated with shortages and stagnation?

On the latest episode of Confronting Capitalism, Vivek Chibber and Melissa Naschek discuss the ambitions and challenges of economic planners, and why the defects may be hardwired into the structure of central planning.

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Read show transcripts here: confrontingcapitalism.substack.com

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Confronting Capitalism with Vivek Chibber is produced by Catalyst: A Journal of Theory and Strategy and published by Jacobin. Music by Zonkey.