Bookmarker is a personal project by @dellsystem to help with retaining reading material. Source on GitHub.

Businesses plan their activities--often down to the last detail. Indeed, that is where Marx got the idea of centrally planning the whole economy. When he talked about planning, there was in fact no real-life government that practising planning. At the time, only firms planned. What Marx predicted was that the 'rational' planning approach of the capitalist firms would eventually prove superior to the wasteful anarchy of the market and thus eventually be extended to the whole economy. To be sure, he criticized planning within the firm as despotism by capitalism, but he believed that, once private property was abolished and the capitalists eliminated, the rational elements of such despotism could be isolated and harnessed for the social good.

cool

Thing 19 (199) by Ha-Joon Chang 9 years, 4 months ago