Red Plenty

I generally review books after I have read them, but I'm posting about Red Plenty when its still in my Amazon shopping basket. I heard about this book's premise on the radio, and the premise may turn out to be its most more interesting part.

Here is what the front flap says:

Once upon a time in the Soviet Union...

Strange as it may seem, the grey, oppressive USSR was founded on a fairy tale. It was built on the twentieth century magic called "the planned economy", which was going to gush forth an abundance of good things that the lands of capitalism could never match. And just for a little while, in the heady years of the late 1950s, the magic seemed to be working.

Red Plenty is about that moment in history, and how it came, and how it went away; about the brief era when, under the rash leadership of Nikita Khrushchev, the Soviet Union looked forward to an future of rich communists and envious capitalists...

This was the time between the launch of Sputnik in 1957, and the Cuban missile crisis in 1962, when the Soviet Union looked and felt rich and successful. It felt like the Soviets had invented a wonderful new world, both morally and materially superior to the West. So...this was the illusion, the chimera, that lured Nehru's India into decades of socialism and stagnation.

Red Plenty's hero is Leonid Kantorovich, the only Soviet to win the Nobel Prize for Economics. He invented linear programming (among other things), and so helped create the impression that Soviet science could allocate resources more effeciently than capitalist markets. The book is a melding of fact and fiction about how that vision was, and was not, true.

The other book in my Amazon shopping basket is Michael Lewis' The Big Short. I've actually started reading this book, but I didn't finish my father-in-law's copy on our last trip to Madras. It feels like a nice counter-point to Red Plenty. It too takes us back to a far-away past, the time between the fall of the Berlin Wall and the fall of Lehman Brothers, and reminds us that capitalism can also fall into catastrophic science-induced hubris.