The Economic Productivity and Efficiency of Socialism

The argument of socialism was that only if individuals were altruistic enough that then socialism would be possible. Hik's argument was that that's not the issue at all. Everyone could be completely altruistic, but if you don't have a way to register relative supply and demand, then really won't have rational economic activity. When hi put forward these ideas, primarily in the 19 thirties, they were immediately persuasive. And as i said it to me that they arethe fundamental macro economic contribution of the twentieth century.