President Ronald Reagan loved to tell jokes about the inefficiencies of Soviet communism. One of his favorites was the one about the man in the U.S.S.R. who went to an automobile dealership to buy a car. “There’s a 10-year delay in the Soviet Union of delivery of an automobile,” Reagan said. “So, this man laid down his money, and then the fella who was in charge said: ‘Okay, come back in 10 years and get your car.’ ”
The man asked: “Morning or afternoon?”
The dealer replied: “Ten years from now, what difference does it make?”
The man said: “Well, the plumber is coming in the morning.”
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I was reminded of this story when I saw reports that the United States is experiencing a Soviet-style new-car shortage. In the first half of the year, dealers received millions fewer cars from carmakers than…
