Tuesday, May 21, 2013
Planned Economies Are Failed Economies
SEE HERE Moreover they are inefficient and ineffective, tyrannical and ultimately failures. This is a finding of history. Planned economies satiate the hubris of the planners who all imagine themselves able to improve on the results of the market. The reality is that they produce dislocations, waste, extraordinary delays, poverty, and finally decay. We've seen this in small ways in the United States when the government has gone into the price control business with rationing and other government tactics. They don't work. They promote crime because of blackmarkets and they undermine government. The left loves them which is just another reason to ignore and marginalize the left.