The age old liberal hymn. I’m not going to say this is wrong, but it’s a very black and white stance in the matter. Plenty of succesful economies have been cent

The age old liberal hymn. I’m not going to say this is wrong, but it’s a very black and white stance in the matter. Plenty of succesful economies have been centrally planned and/or protectionist. Likewise speculative booms in unregulated markets have produced massive amounts of deadweight loss. Not to mention the administrative overheads of running large scale free(ish) markets we observe in all first world countries, it makes the USSR look lean and mean by comparison. This is not to excuse the flagrant absurdities seen in state-capitalist economies all troughout the 20th century. The best model of central planning appears to be government guided bank credit allocation as seen in postwar Japan and the Asian Tigers, this lets entrepreneurs handle the micromanaging aspects whilst the state can avoid boom-bust cycles typically associated with private finance.