Too simplistic.
The real problem with Bolsevism is this:
Classical economics is not a “system” but an accurate description of how people interact on a daily basis. In other words, Classical Economics (capitalism, or supply side capitalism) is a description of how people make daily decisions on how much money or goods or services to give up to procure things or services or power which they perceive to have marginally more value than the money or goods in their hand. That is economics.
When you depart from this classical model you no longer have an economic system, but a political system. When you start to centrally plan the value producing activities and their distribution you have decreased the economy because economics is nothing more than people making decisions and trading values. In essence the less the masses have decisions in value and its production, THE LESS ECONOMY YOU HAVE.
The Soviet economy at its height during Brezhnev’s reign never produced anymore than 1/4 of the US living standard on a per capita basis. Miserable performance because it was a political system that had nothing to do with economics.
The librarian Karl Marx was a good politician and a really horrifyingly bad economist. He and his illiterate minions were responsible for the deaths of 140 million people in the 20th century and Socialism can be counted as the largest disaster to have happened in Mankind’s history.
Thank you. I spend an inordinate amount of time explaining to people that "capitalism" (a term I really don't like, much preferring "free markets") is not so much a "system" as it is simply the natural means by which civilized people satisfy their needs.
If you go back to the basest caveman existence, there are three means by which an individual can satisfy their needs and wants:
1. Kill a deer (produce for one's self).
2. Trade half your venison for a room in a cave and a place at the fire (free exchange of goods and services).
3. Kill the cave owner and take everything for yourself (taking by force or guile).
Every economic interaction between individuals, organizations and nations has ultimately been some variation of one of the above three. As much as governments are instituted to prevent and limit #3, there really is no "economic system" until government tries to become involved in #1 and #2.
>>>The Soviet economy at its height during Brezhnev’s reign never produced anymore than 1/4 of the US living standard on a per capita basis. Miserable performance because it was a political system that had nothing to do with economics.<<<<
In fact 1/4 of the US living standard is not that bad to way too many societies.
I think socialist dictatorship is a pretty nice interim form of government for some people, for example in Middle East.
If Soviets could effectively install their version of government into Afghanistan it couldn’t be such a mess right now. Just compare former Soviet “stans” to Afghanistan or Pakistan.
Former communists are easily convertible to free republican values, unlike 7th century cavemen.