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Government should never plan economy and allocate capital, just regulate

Government should set socially acceptable goals and then regulate the rules of the game to attain those goals or at least move towards them. Whether you call that planning is beside the point.

And, no, New Labour's obsession with "targets" is not it. That leads to micromanagement.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Thu Feb 4th, 2010 at 05:23:52 AM EST
[ Parent ]
Well, if you take planning to be five-year plans with detailed target for production and so on, then it's regulation. If you take planning as setting goals and leaving the parts that markets can achieve to the markets, then it's planning.
by Colman (colman at eurotrib.com) on Thu Feb 4th, 2010 at 05:28:19 AM EST
[ Parent ]
if you take planning to be five-year plans with detailed target for production and so on, then it's regulationplanning. If you take planning as setting goals and leaving the parts that markets can achieve to the markets, then it's regulationplanning.

You've deviated from the coffee-intake targets in your 5-year plan.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Thu Feb 4th, 2010 at 05:40:00 AM EST
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