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> The trillion dollar bailouts are central planning. There's a difference between an measurement that's imposed by a dominant economic actor and having a centr
by rualca 6y ago
> The trillion dollar bailouts are central planning.
There's a difference between an measurement that's imposed by a dominant economic actor and having a centrally planned economy.
Bailouts were arguably applied centrally by a central bank, but they are distributed throughout all economic actors that apply for bailouts and meet requirements.
- chordalkeyboard 6y agoI agree there is a difference. Also “meet requirements” is intended to portray the process as somewhat objective but its not. They write those requirements with an eye towards who they want to get the bailout.