Capitalist Ideology or Socialist Delusion
In their book Socialism—The Grand Delusion Brian Crozier and Arthur Seldon presented arguments for the superiority of capitalism over socialism. Alec Nove, Emeritus Professor at the University of Glasgow, takes issue with their reasoning. Professor Nove agrees that the allocative efficiency of markets cannot be gainsaid. But he warns against applying arguments drawn from theories of perfect competition to the real world of uncertainty, mistakes, imperfect information and economic misjudgement. Brian Crozier responds that the evidence for the failure of socialism is irrefutable.