During The Cold War
The comparative study of economic systems was of significant practical and political significance during the Cold War, when the relative merits of capitalist and communist systems of economic and political organization were a central topic of political concern. One of the most important early contributions was the calculation debate regarding the assertion of Ludwig von Mises that a system of central planning could never work because the information generated by a price system would never be available to planners. One response was the advocacy and partial implementation of systems of market socialism.
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Famous quotes containing the words cold and/or war:
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formed to bind all mortals,
made to strike and gather hearts
like flame upon an altar,
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—Hilda Doolittle (1886–1961)
“It takes twenty years or more of peace to make a man; it takes only twenty seconds of war to destroy him.”
—Baudouin I (b. 1930)