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Day: December 15, 2024

Politics + Society
Daniel Pellathy

Does the US have a planned economy? You might be surprised

During the Cold War, a heated debate arose over the role of economic planning. Did the “planned” economy of the USSR or the “free market” economy of the U.S. allocate resources more productively? Arguments against planned economies centered on the limits of information processing, the feasibility of production forecasts and the inflexibility of centralized plans. […]

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