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Does the US have a planned economy? You might be surprised

  • Written by Daniel Pellathy, University of Tennessee

During the Cold War, a heated debate arose over the role of economic planning. Did the “planned” economy of the USSR or the “free market” economy of the U.S. allocate resources more productively?

Arguments against planned economies centered on the limits of information processing, the feasibility of production forecasts and...

Read more: Does the US have a planned economy? You might be surprised

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