"When the socialist economies of Eastern Europe disintegrated, the cause was evident to nearly everyone: the stifling directives of central planning had all but obliterated individual initiative and accountability. The cure was just as obvious: a healthy dose of entrepreneurship and private enterprise."
Dr. Lawrence W. Reed
(1953-) President of the Foundation for Economic Education, economist, author
One size doesn’t fit all, Why not teachers as entrepreneurs?, THE NEW AMERICAN, p. 8, January 31, 1996.
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Reader comments about this quote:
There are many policies here now that can be compared to the former Eastern Bloc countries. TOO many!
 -- J Carlton, Calgary     
    When Russia was the Soviet Union The central planners had those 5 year plans to increase food harvesting. These plans never worked so about every other year they would have a new 5 year plan. The Russians never caught on but the Chinese have and their economy is booming. The Russians proved that Socialism never works.
     -- jim k, Austin,Tx     
    Not so funny, but it is odd that what failed in Eastern Europe is what we are doing here now.
     -- cal, lewisvbille, tx     
    Agree with all statements above. Following the Nazi's coming to power play book, the statist theocracy now infesting this land is also incorporating that which brought down Eastern Europe. Realistically, hmm, to what end?
     -- Mike, Norwalk     
    What is needed is a revolution in the minds of Americans. Then, of course, action... NO MORE DEBT! Let the cards fall as they may -- time for reality.
     -- E Archer, NYC     
  • 1
    Dr. Reed, for all his supposed intelligence, paints the Eastern Bloc economies with that tiered old moniker of "Socialism" just to keep that boogie man going. The reality is that these countries hadn't had real Socialism for years. They had deteriorated into a military controlled plutocracy. It's very similar to what is causing the collapse of Capitalism. The exception is that ours is corporate controlled. The result is the same.
     -- L. Hanson, Edmonton, Canada     
    How about the stifling directives of capitalism that run America and obliterate individual freedom and imagination. The middle class has gone and will not return - it was this class that made America great not capitalism; it was the imagination and creativity of the middle class that built the machines that have now been used against them. Capitalist's not have technology to rape and pillage, as is evident with the Federal Reserve and central banking - where the whole economy is based on debt - the interest on debt has made slaves of us all. O! you want a trillion, wait a minute while I'll send it to your bank via my computer - the only real money in this transaction is the interest. The trillion didn't exist.... wake America you are being bamboozled.....

     -- Robert, Somewhere in Europe     
    Robert, your opening statement contradicts itself. Directives (stifling or otherwise) of capitalism do NOT run America. The occupying statist theocracy infesting the land that was once a land of the free is extremely hostile to capitalism. By way of an extremely terse list, that which nullifies and makes capitalism void is funny money, the second plank of the communist manifesto, licensing, absolute denial of perfected allodium, non-free / special interest market regulation, compelled compliance and collective / governmental / statist ownership and administration of the means of production and distribution of goods. The middle class has gone as a result of theistic socialism's implementation (not capitalism). The Federal Reserve is a tyrannical oligarchy and is even more antithetical to capitalism than socialism. Capitalism is an economic understanding of when money (gold and silver coin, etc. = an intrinsic value tangible, NOT debt) is exchanged for labor and then an excess, after frugal living, is invested into a private third party without restriction. America is being bamboozled by socialism, and its bankers. The answer to eliminate such bamboozlement is to re-innitiate personal responsibility, liberty / freedom, natural law, rights and a healthy dose of entrepreneurship and private enterprise.
     -- Mike, Norwalk     
  • 2
    The correct response, cease from All " Legalized Plunder " return to a gold and silver standard. The Only Fair exchange of the laborers toil. Knowing they have no ground to till.
     -- Ronw13, USA     
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