"Gorbachev was surprisingly receptive. He echoed some of Shultz's thinking in his 1987 book, Perestroika: "How can the economy advance," he asked, "if it creates preferential conditions for backward enterprises and penalizes the foremost ones?" When Reagan visited the Soviet Union in May, 1988, Gorbachev arranged for him to lecture at Moscow State University on the virtues of market capitalism. From beneath a huge bust of Lenin, the president evoked computer chips, rock stars, movies, and the "irresistible power of unarmed truth." The students gave him a standing ovation. Soon Gorbachev was repeating what he had learned to Reagan's successor, George H. W. Bush: "Whether we like it or not, we will have to deal with a united, integrated, European economy. . . . Whether we want it or not, Japan is one more center of world politics. . . . China ... is [another] huge reality. . . . All these, I repeat, are huge events typical of a regrouping of forces in the world." Most of this, however, was rhetoric: Gorbachev was never willing to leap directly to a market economy in the way that Deng Xiaoping had done. He reminded the Politburo late in 1988 that Franklin D. Roosevelt had saved American capitalism by "borrowing] socialist ideas of planning, state regulation, [and] . . . the principle of more social fairness." The implication was that Gorbachev could save socialism by borrowing from capitalism, but just how remained uncertain. "[R]epeated incantations about 'socialist values' and purified ideas of October,'" Chernyaev observed several months later, "provoke an ironic response in knowing listeners. . . . [T]hey sense that there's nothing behind them." After the Soviet Union collapsed, Gorbachev acknowledged his failure. "The Achilles heel of socialism was the inability to link the socialist goal with the provision of incentives for efficient labor and the encouragement of initiative on the part of individuals. It became clear in practice that a market provides such incentives best of all."
January 1, 1970
https://en.wikiquote.org/wiki/Perestroika