LOL: Economics textbook predicted Soviet economy would outpace U.S. by 2000

Well, that certainly didn’t age well.

The great Thomas DiLorenzo posted an image of an economics textbook authored by Nobel Prize-winning economist Paul Samuelson. What makes the textbook riveting is its prediction that the Soviet economy would outpace the U.S. economy by 2000.

Uh huh.

Here is a tweet from Mises Institute’s Jeff Deist:

Tom DiLorenzo reminds us how Paul Samuelson’s rotten textbook predicted the Soviet economy would outpace the US by 2000 or so.

This was the biggest selling textbook in the world for 40 years. pic.twitter.com/Io1fCAkFHb

— Jeff Deist (@jeffdeist) July 17, 2019

We are afraid we’ve got some bad news: The Soviet economy collapsed.