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. […]
The plastic recycling system is broken – here’s how we can fix it
The investor Warren Buffett once remarked that “only when the tide goes out do you discover who’s been swimming naked”. For the plastics recycling industry, the pandemic was a bit like the tide going out, exposing its deep-rooted structural problems. Specifically, COVID-19 exposed the plastics recycling sector’s vulnerability to oil-price changes. Economic shutdown driven by […]