The Controversy Of Planned Economy

There is no denying the historical impact market and planned economy have had on the world. There is also no denying that planned and market economies are outdated and not fit for economy’s today. The market economy is similar what the Nazis formed their government around. Planned is not much better, the communist Soviet Union was responsible for multiple wars and the failure of multiple countries’ economies today. Many former soviet states have terrible economy today because of what happened to them. So planned and market both suck but there is another option.

Planned economy is flawed; as proven by history. Planned economy, in theory, works well but has a lot of big problems in practice. An example of the problems in planned economy is the
One of the big flaws with a market economy is poor people will have a harder time living. But a market economy greater benefits the middle class and upper class. The competition created by market economy is exceptional for business. Competition keeps the products high quality and at a reasonable price. But people that make little money will have a hard time buying a product and making good amounts of money. America has an economy close to the market economy. Very far right economies are considered fascist. right here is currently no fascist governments installed. The Nazis showed the world that fascism can be dangerous. The government in a market economy does almost nothing for the people. Not a lot of countries these days’ use market economy. The only notable country close to a market economy is Chad. Market economy works in theory like planned economy but like planned economy has defects.

Mixed economy is the best of both market and planned economies. Aspects of both planned and market are included in mixed. Mixed lets you have the individualism of market and some benefits of planned. The government still controls aspects of people lives like, military and taxes. Mixed has taxes, unlike a full-on market economy. In mixed there is still election unlike in a planned economy. In an economic bust, the government will intervene unlike in a market economy. Mixed economy reduce regulation emplaced by the government.