All the trappings of the new economy—the supposed market-based prices, the competitive salaries, and the taxes—were, according to Gaddy, nothing but illusions. He called it the “virtual economy,” coining the term long before the word “virtual” took on a different and more appealing meaning. He meant that the country pretended to have entered a new economic age but in reality traded through barter and never fully met any of its monetary obligations. He, too, placed the blame on the unreformed, and politically powerful, core of the command economy: the enormous inefficient companies run by the
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Uggh. Pay close attention to this right here. #Warren2020
