"The doubling of China's food crops in a single year," boasted Communist economists last October, "is one of the greatest victories of man over nature in history!" Soviet Russia might talk of outproducing the U.S., but Red China cockily promised to overtake Britain within a few years. Having herded 500 million people into the ant-heap life of "people's communes," Red China boasted that it had been able "completely to bury the so-called 'law of diminishing returns' which bourgeois economists claim to be universally true."
But last week came the shamefaced admission that so-called bourgeois economic laws were right, after all,...
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