Stossel: 100 years of Communist Disaster (VIDEO)

What was it that brought communism down? Was it Reagan? Star Wars? The Gulag Archipelago? Afghanistan? Oil prices?

To some degree it was these things, but fundamentally communism imploded because it had no functional price system. No one in the commie world could figure out how much something should be. No one knew how much to pay anyone. Sure the Soviets looked to the West to get some idea of what the going rate for something was, but they could never get it right. The system which sought to deny the reality, the cosmic reality, of the free price system just crumbled once the Stalinist terror was turned down a few notches under Gorbachev.

As PJ O’Rourke once put it, and this isn’t an exact quote, “The whole of the communist world collapsed because no one wanted to wear Bulgarian shoes.”