Below are three posters from approximately 1974 when the CME did an ad campaign mocking communist countries. I can recall seeing one mocking Yugoslavia in an office but I haven't seen it again. If anyone has a copy, please submit it!
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How come there's no Peking Duck Exchange? Difference of opinion - openly aired - is as essential to a free economy as it is to a free society. That's why great commodity exchanges can flourish in this country and not in the People's Republic of China. You can't have free markets in a regimented society. And you can't have regimented markets in a free society.
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How come there's no Havana Cigar Exchange? It just wouldn't work. A commodity futures market such as those that flourish in the United States and other free countries simply can't operate in a highly regulated economy. Free markets - or controlled? When you get right down to it, that's probably the single biggest difference between their way and ours. Except, of course, for the standard of living.
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How come there's no Moscow Mercantile Exchange? Millions of potatoes, cabbage and other commodities change hands in the U.S.S.R. every year, but not a ruble's worth is traded on any futures market. In a regulated economy, the price of a head of cabbage is exactly what the government says it is - no more, no less. Does their system work? Apparently. Does it work as well as ours? You've got to be kidding.