Does the historical record prove that socialism by Dr. Robert Murphy

Question 11 / 15: *Does the historical record prove that socialism is a flawed economic system?

Answer:

No, because we can never know how history would have unfolded in an alternate timeline where socialism hadn't been implemented.

(For an analogy, if someone has a headache and takes an aspirin, and then the headache gets worse, that doesn't prove that "aspirin makes your head hurt." It's probably the case that the headache would have gotten really bad had the person never taken an aspirin.)

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explain vividdly the concept of market with concrate example

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why economics is difficult for 2nd school students.

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economics theory describes individual behavior as the result of a process of optimization under constraints the objective to be reached being determined by

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need

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Economic Needs: In economics, needs are goods or services that are necessary for maintaining a certain standard of living. This includes things like healthcare, education, and transportation.

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Socialism: The Command Economy

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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