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And centrally planned systems don't find a solution to many problems at all (e.g. new low cost innovations). Without competition, there is no incentive to impro
by hueving 10y ago
And centrally planned systems don't find a solution to many problems at all (e.g. new low cost innovations). Without competition, there is no incentive to improve the efficiency of anything that meets the bare minimum requirements.
- sebastianconcpt 10y agoPlanned systems are doomed by design. They destroy the information that prices carry and end in self-destruction/collapse. Even communist China knows better than that.