Planned Economy, being a system in which only government controls the investments, prices of goods, imports and exports and the total economic system, undoubtedly proved to be a bogus economic system due to the sole authoritarian behavior of government. I feel quite pity for the countries where this economic system had made the lives of people dull and caged in its most strict sense.
Exactly, when each and every economic affair gets related with the government, the people start losing their interest, feel throttled and bounded with the thought that whether they work hard or dull, they will benefit the government. Well said, Keen Listeners.
Planned Economy History Definition
Planned Economy History Definition, Let’s take the example of the pro-capitalistic countries where the competitions among different companies resultantly provide the people good quality products in fewer prices and that the sense of improvement in the betterment of their products is strife for more and more customers.
In all these competitions, the common people benefit. It is very beautifully said that competition can get the best of progress. I don’t feel that the other side of the picture has remained hidden from my opponent.
The China of Mao and the socialist republican of Stalin showed practically that economic growth can be deadened right after the nationalization of companies and seize of private property.
It unpredictably became the prelude to the loss of interest in the production of more capital and goods. On the other hand, the government started becoming gigantic and the sole authority which seemed hard to be dealt with.
US Economy Today LifeTime
A planned economy is not as planned as it seems to be. I feel that it is more a slogan than a normal economic system. It does not only deteriorate the living standard of people but also suppresses the innovative minds which can work better out of bounds than suffocated.
I think planned economic system prefers more the smile of government than of people. This system basically stands upon the notion that people are mostly fools and uneven and that only government can assure their management.
The affected experts of this system do not think of the danger which can rise in the form of a strong monster that can easily engulf the whole state in her one teaspoon.
They will be of course playing only the shots which can coin them some money and the poor people will remain speechless, pale-faced spectators.
I find no way to accept Planned Economy as an ultimate system to save any country from crisis. It may create more crises and the survival may become more difficult. Because economic dictatorship brought through political dictatorship makes the life uglier and more handicapped than the natural.
On one hand, where the total economic authority goes to the hands of the government, right, on the other hand, the due rights of investors are snatched by not permitting them to invest in the market.
It is very obvious that a society without progress is just like water that has started stinking.
I don’t understand how my short-sighted adversary thought of the progress of a society without any progress in the lifestyle of its people? How could he think that there would be no financial problems when people were not allowed to trade freely? How could he think that government could alone fulfil and adjust all the requirements of the people? How did he think that the government is all in all? After all, economic dictators are few minds.
I am surprised and shocked that someone can favour freezing the creative minds of those capitalists who have always searched the new, have tended to introduce new fashions and improvements not only in the ways of investments but also in the products they have been inventing and designing.
Hence, it concludes that the Planned Economy cannot detect consumer preferences, shortages, and surpluses with sufficient accuracy and therefore cannot efficiently manage production.
To conclude, I would love to say that free market economy though seems rough and uneven is far better than the so-called Planned Economy because in a free market economy the individuals focus their profits through varieties and planning do not consider any individual at all. Thanks for paying nice attention! Techguideme.com