4 ms·

I'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 yo

I'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 ago
Well, 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...