Not disagreeing with your central point, but it’s worth noting that planned economy has been tried and it failed, not sure to planning errors but fundamental systemic issues with the approach.
There have been failures, yes. However, look at any company, especially the megacorporations like Walmart. They all have planned economies. Walmart IT isn’t placing contract bids with the Walmart marketing department, they just help the marketing department when needed. The meat department isn’t shopping around for cheaper suppliers, they get meat from the logistics network Walmart controls. The only example of a free market business I know of is Sears, which was already sinking. The free market idea from the CEO was catastrophic and sunk the company in under a year. The IT department needed to turn a profit, so their prices were high. When the marketing department needed IT and Sears IT placed a bid, it was higher than contracted IT so the marketing department didn’t work internally and ended up costing the company massive amounts of money.
There are also successful planned economies in existence right now; Cuba is thriving in spite of the economic sactions by the US, and Vietnam didn’t stop being communist after the war with the Khmer Rouge. This also excludes other realities, like what constitutes the failure of a country? Is it a failure of a planned economy, or is it a failure of government? If it’s a failure of the economic system, then why aren’t failing/failed capitalist nations attributed to capitalism?
Not disagreeing with your central point, but it’s worth noting that planned economy has been tried and it failed, not sure to planning errors but fundamental systemic issues with the approach.
There have been failures, yes. However, look at any company, especially the megacorporations like Walmart. They all have planned economies. Walmart IT isn’t placing contract bids with the Walmart marketing department, they just help the marketing department when needed. The meat department isn’t shopping around for cheaper suppliers, they get meat from the logistics network Walmart controls. The only example of a free market business I know of is Sears, which was already sinking. The free market idea from the CEO was catastrophic and sunk the company in under a year. The IT department needed to turn a profit, so their prices were high. When the marketing department needed IT and Sears IT placed a bid, it was higher than contracted IT so the marketing department didn’t work internally and ended up costing the company massive amounts of money.
There are also successful planned economies in existence right now; Cuba is thriving in spite of the economic sactions by the US, and Vietnam didn’t stop being communist after the war with the Khmer Rouge. This also excludes other realities, like what constitutes the failure of a country? Is it a failure of a planned economy, or is it a failure of government? If it’s a failure of the economic system, then why aren’t failing/failed capitalist nations attributed to capitalism?