Another way to view what Andy Grove was saying was we neither have capitalism, socialism, or central planning. Rather we have a toxic mix in many industries li

Another way to view what Andy Grove was saying was we neither have capitalism, socialism, or central planning. Rather we have a toxic mix in many industries like Health Care, Defense, Drug Development etc. i.e the comment that what we have is inferior to "lasssez-faire" or free market. China has used central buying/orders to drive up artificial demand/buying and as a result has a massive over capacity and debt problem that appears to actually be stickier and worse than ours. I think the best learning is it's better to make a clear choice on the system to allocate resources rather than hybridize it. US Example? Healthcare-- Either go completely public like those in Europe which spend 4-6% of their GDP to cover health or go 100% provide and move government out of it . These hybrid systems have us spending 20% of our income on healthcare so we get the worst of both worlds.