alt Hacker News> Economic central planning is a fool's errand.
crazy, because the two biggest cases of economic central planning are the USSR which grew faster than any civilization ever (a literacy rate of 30% to 100% in 60 years) and China who is currently making the United States world power look like a toddler.
There's clearly something to central planning, it's still up in the air if you can totally plan an economy centrally. I tend to agree with Chibber.
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s1artibartfast • last Tuesday at 5:06 AM
If you think China is centrally planned, I think you are talking past each other. China has a deep market economy.
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As I stated above, economic central planning can never work over the long term. The USSR didn't last very long, and it turns out that most of their economic statistics were fake anyway. Communists always lie about everything.
China still doesn't exert much power in world affairs. And their economic successes over the past few decades have come about by embracing free market principles. The stuff they tried to centrally plan has largely failed.