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For me, the principal problem of central planning is that you cannot plan for innovation. Innovation works best in competitive capitalistic environments, where
by atemerev 8y ago
For me, the principal problem of central planning is that you cannot plan for innovation. Innovation works best in competitive capitalistic environments, where there is a significant prize awaiting innovators.
- claudiawerner 8y agoHaven't there been many innovators and scientists who come from the most unlikely walks of life, and die penniless? Did Einstein, for instance, not have to divide his time between work at the patent office and groundbreaking research?
- v_lisivka 8y agoYou should compare number of implemented innovations and market disruptions instead.
- baursak 8y ago> Innovation works best in competitive capitalistic environments Well, a huge chunk of innovation in capitalist countries happen on university campuses or within government funded organizations like DARPA or NASA, or within communist-like arrangements like Open Source (Linux, Apache, etc). Which are then appropriated by private interests to be monetized.