2. A, B. During the first half of the 20th Century, the Soviet Union had excellent...

2. A, B. During the first half of the 20th Century, the Soviet Union had excellent economic growth, with socialism. Friedrich von Hayek nevertheless predicted back in 1945 that the socialist counties would go into future economic decline and eventually collapse.

Separately answering as parts A and B, give and fully explain two different reasons why Hayek believed that the Soviet Union was headed for a long run collapse. With each reason, also give what the Soviet Union tried to do to prevent the problem identified by Hayek.

answers must include (i) the good intention, (ii) the reason why they believed there is gain and (iii) the cause of this gain specifically through socialism.

Expert Solution

1.He believed that prosperty of the society is driven by innovation Creativity and entrepreneurship is only possible in a society where free market exists He determine how changing price relay information that helps people determining the economic plan

2.some economists debated that it is possible for the socilist economy could work but hayek offended it. The reason socialist economists thought central planning could work was that they thought planners could take the given economic data and allocate resources accordingly

3.they relied and believed that central planners could force the economy to save and invest a lot more than otherwise and help achieve rapid gains in living standards.

Rahul Sunny answered 2 years ago

A, B. During the first half of the 20th Century, the Soviet Union had excellent economic...

A, B. During the first half of the 20th Century, the Soviet Union had excellent economic growth, with socialism. Friedrich von Hayek nevertheless predicted back in 1945 that the socialist counties would go into future economic decline and eventually collapse. Separately answering as parts A and B, give and fully explain two different reasons why Hayek believed that the Soviet Union was headed for a long run collapse. With each reason, also give what the Soviet Union tried to do...

During the first half of the 20th Century, the Soviet Union had excellent economic growth, with...

During the first half of the 20th Century, the Soviet Union had excellent economic growth, with socialism. Friedrich von Hayek nevertheless predicted back in 1945 that the socialist counties would go into future economic decline and eventually collapse. Give and fully explain two different reasons why Hayek believed that the Soviet Union was headed for a long run collapse. With each reason, also give what the Soviet Union tried to do to prevent the problem identified by Hayek?

in the second half of the 20th century, the city of phoenix, Arizona exploded in size....

in the second half of the 20th century, the city of phoenix, Arizona exploded in size. between 1990 and 2000 the population of phoenix increased exponentially. in 1990 the population was 928,000 people, and in 2000. the population was 1,377,000. a) what is the 1 decade (10 year) growth factor for the population of phoenix since 1990? b) write a function f(d), that determines the population of phoenix in terms of the number of decades, d, that have elapsed since...

Discuss The Economics of Information in the second half of the 20th Century (maximum 1,000)

There was much progress in nursing during the early to middle part of the 20th century...

There was much progress in nursing during the early to middle part of the 20th century (1900 through the late 1930s). After reading the textbook and the lesson for this week, describe one area of change in nursing during that time period that intrigues you. Discuss how that area could be applied today. No screenshots. Please type the answer.

1. list and describe reasons that divorce rates increased during the 20th century. 2. Explain why...

1. list and describe reasons that divorce rates increased during the 20th century. 2. Explain why divorce rates have stabilized more recently. What are some social & economic consequences of divorce both on the ex-spouses and on any children involved? 3. Explain why step-parenting is likely to be difficult in remarriage. 4. What are some challenges that stepparents face? 5. What are some challenges faced particularly by stepfathers? 6. What are some challenges faced particularly by stepmothers? 7. How might...

1. After the dissolution of the Soviet Union in 1991, the Russian Federation had a lot...

1. After the dissolution of the Soviet Union in 1991, the Russian Federation had a lot of issues building a strong capitalistic economy. During the period of privatization, a lot of people were unemployed and had no clue how a free market economy works. All this factor resulted in the formation of bandit groups and gangs and a huge unemployment rate in the whole country. Based on the theories created by John Maynard Keynes, how should the government of the...

1. a) A lot of experiments conducted during the 20th century - from Milgram to Harlow's...

1. a) A lot of experiments conducted during the 20th century - from Milgram to Harlow's studies - would be considered unethical by today's standards. Do you think that the groundbreaking results we remember from these experiments somehow justify their ethical issues? Why? b) Do you think the nature-nurture debate has been solved by modern psychology? Please answer the each of the part of above question in depth (as much as you can like 300 words or more) and quality...

During October 1962 the United States and the Soviet Union engaged in a stand off over...

During October 1962 the United States and the Soviet Union engaged in a stand off over the Soviet Union’s attempted deployment of nuclear missiles to Cuba. We will model part of the crisis dynamics as they looked on October 22, 1962 when President Kennedy announced the naval blockade of Cuba stating that Soviet ships carrying nuclear missile equipment would be turned back if attempting to enter Cuba. Consider this a sequential move game where the first mover Premier Krushchev can...

During October 1962 the United States and the Soviet Union engaged in a stand oﬀ over...

During October 1962 the United States and the Soviet Union engaged in a stand oﬀ over the Soviet Union’s attempted deployment of nuclear missiles to Cuba. We will model part of the crisis dynamics as they looked on October 22, 1962 when President Kennedy announced the naval blockade of Cuba stating that Soviet ships carrying nuclear missile equipment would be turned back if attempting to enter Cuba. Consider this a sequential move game where the ﬁrst mover Premier Krushchev can...

Question