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> Though postwar American politicians juxtaposed US free markets to the centrally planned economies of the Soviet bloc, Galbraith recognized that the two were m
by perfunctory 11y ago
> Though postwar American politicians juxtaposed US free markets to the centrally planned economies of the Soviet bloc, Galbraith recognized that the two were more similar than one might have thought.
Whenever I try to explain this to anyone, people look at me as if I'm crazy.
- arethuza 11y agoHaving witnessed the consolidated reporting and planning processes for a good sized successful multinational the irony of "central planning" did strike me more than once.
- alanwatts 11y agoCapitalism: an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. The United States is not a Capitalist society when those private owners of industry and trade also own the state, and then use the states funds to bail themselves out whenever their business plan fails (i.e. 2008). This is what increasingly centralized economic planning looks like: http://i.telegraph.co.uk/multimedia/archive/03573/big-bank-theory-ch_3573015b.jpg http://i.telegraph.co.uk/multimedia/archive/03573/big-bank-t...