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Well, nobody is talking about "business versus government", so please don't just cherry-pick or take parts of these comments out of context. We're talking about
by egiva 15y ago
Well, nobody is talking about "business versus government", so please don't just cherry-pick or take parts of these comments out of context. We're talking about key concepts in Political Economy (PE) and I'm clearing saying that I disagree that Central Planning takes place in the way the author implies. The author tells us that the widening income gap is leading to ... central planning. And I say that's totally not true, it's a false causality. A terrible income gap exists, but Central Planning = Government decides and industry follows, like in China. Our system is the opposite, with industry deciding and government getting out of the way. That's Corporatism, not Central Planning. I'm saying that Corporatism creates the income gap, so Central Planning, if it exists, has nothing to do with it. Here's another way to say it: a circular block will fit into a much larger square hole, but that doesn't make it a square ;)
- abstractbill 15y agoI'm not trying to quote you out of context, sorry if it came across that way. Central Planning = Government decides and industry follows, like in China. If you want to take this as a definition, then fine, we have nothing to argue about. But if you just give the phrase its literal meaning, I believe the article is arguing that: One form of central planning is what you described. Another is a very small number of entities controlling a very large amount of money.
- egiva 15y agoWell, if it's a definition it's a crappy 2-second one so I apologize for that. I hear what you're saying here and I agree. In any effect, we can probably all agree that the end result of all this is overwhelmingly negative for the long-run productivity growth of the US economy, and that means more stagnating real wages, more structural unemployment, and more hardship for a lot of families. Some would argue that we need MORE central planning to lead the economy out of this hole, and there was a good op-ed in the NYTimes about why this probably isn't possible with our current government. See Link: http://www.nytimes.com/2011/08/07/opinion/sunday/what-happened-to-obamas-passion.html?pagewanted=1&_r=1&ref=general&src=me http://www.nytimes.com/2011/08/07/opinion/sunday/what-happen...