The argumet that if it is good, it would exist already is at is essens a conservative argument. Applied in a different time it could be an argument for any dominating economic model. It also supposes that politicla pressure is not brought to bear in order to benefit the dominating economic model.

Like the abolition of Yugoslavia's workers councils (that I would be interested to hear about how they worked from anyone with experience. vbo?)

Economy of the Socialist Federal Republic of Yugoslavia - Wikipedia, the free encyclopedia

In the 1990s, IMF effectively controlled the Yugoslav central bank. Its tight money policy further crippled the country's ability to finance its economic and social programs. State revenues that should have gone as transfer payments to the republics and provinces went instead to service Belgrade's debt with the Paris Club and London Club. The republics were left on their own to survive. From 1989 through September 1990, more than a thousand companies went into bankruptcy. By 1990, the annual GDP growth rate had collapsed to a negative 7.5 percent. In 1991, GDP declined by a further 15 percent, while industrial output shrank by 21 percent.^[31]

The reforms demanded by Belgrade's creditors struck at the core of Yugoslavia's system of socially-owned and worker-managed enterprises. The objective of the reforms was to privatize Yugoslav economy and to dismantle the public sector. Instead of rebuffing the reforms, Yugoslavia was desperate and could not refuse their demand.

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