Despite the utopian claims of bureaucrats a planned economy has a chaotic property. This is the difficulty in being efficient.
Capitalism uses prices (via price discovery) to determine planning. When a government has no idea what an efficient price is they will mis-allocate scarce resources thereby wasting those resources.
- Forums
- Economics
- The chaos of a planned economy
Despite the utopian claims of bureaucrats a planned economy has...
Featured News
Featured News
The Watchlist
RC1
REDCASTLE RESOURCES LIMITED
Ron Miller, Non-Executive Director
Ron Miller
Non-Executive Director
Previous Video
Next Video
SPONSORED BY The Market Online