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My example was extremely simplified, and my point was not that China's central planning is correct, working well, or a good idea. It was that it is easier to ge
by bsbechtel 11y ago
My example was extremely simplified, and my point was not that China's central planning is correct, working well, or a good idea. It was that it is easier to get away/justify central planning on basic necessities (especially when 500 million people don't even have access to these things) than more complicated luxuries that are more subject to individual tastes.
- jdihwjbbr 11y agoYour thought experiment was lazy and clearly illusionary. At most your comment has some explanatory power as to how the central governments and central banks of the world trick themselves into believing they can make intelligible decisions for billions. Sheer hubris which costs millions of lives and needless poverty.