Another “home run” by Thomas Sowell!
Incidentally, central planners setting 24 million prices is not exactly unique to the Soviet Union. The US tried something similar to this with Franklin D. Roosevelt’s NRA c. 1933, which was so heavily pushed that parades were staged to publicize and promote it. Fortunately, it was struck down by the SCOTUS a few years later and hasn’t been revived in that particular form since, although government price controls have been implemented from time to time since then.
Thanks J, that’s interesting. I wasn’t aware of that but then there’s much I’m not aware of. :)