The Real Value of Your Income Is One Tenth of What It Used to Be

Staln has been in power for maybe 16 years. It's been one unspeakable catastrophe after another. This idea of an economy based on central planning by a group of government employees, absolute catastrophe. The exact opposite of the liberal, classical, liberal libertarian ideas that we've been talking about in a good chunk of this course. So communism. 19 33 was the culmination of the most precipitous peace time decline in living standards known in recorded history.