Pervasive Shortages Under Socialism
提出新理论，认为社会主义下计划者因无法保留企业利润而制造短缺并收受贿赂，解释了短缺的普遍性，并预测价格改革成功需让企业保留利润。
We present a new theory of pervasive shortages under socialism, based on the assumption that the planners are self-interested. Because the planners -- meaning bureaucrats in the ministries and managers of firms -- cannot keep the official profits that firms earn, it is in their interest to create shortages of output and to collect bribes from consumers. The theory implies that (1) an increase in the official price of a good might reduce output, (2) market socialism is bound to fail even without computational complexities facing the planners, and (3) price liberalization will succeed only if firms get to keep their profits.