3 Quotes Tagged: central-planning

"Or, to express it differently, planning and competition can be combined only by planning for competition but not by planning against competition.
It is of the utmost importance to the argument of this book for the reader to keep in mind that the planning against which all our criticism is directed is solely the planning against competition — the planning which is to be substituted for competition. This is the more important, as we cannot, within the scope of this book, enter into a discussion of the very necessary planning which is required to make competition as effective and beneficial as possible. But as in current usage "planning" has become almost synonymous with the former kind of planning, it will sometimes be inevitable for the sake of brevity to refer to it simply as planning, even though this means leaving to our opponents a very good word meriting a better fate."

Unfortunately, the hardest thing for people to understand is that maybe if you leave things alone, it'll be better than stepping in and trying to do something.

The hardest thing in the world to understand is that people operating separately, through their joint relations with one another, through market transactions, can achieve a greater degree of efficiency and of output than can a single central planner.