There are aspects of economy that certainly should be centrally planned though. A few industries that come to mind are transportation infrastructure and power generation. Private competition is good for most industries but it should never be allowed to dismantle public services for profit. When capitalism arrived in my country in the 90s it devastated our rail network since profit became more important than providing people with transportation services. There are cities of around 80k population that don’t have any rail connections now, some cities twice as large have sparse or barely any connections.
Absolutely. I’m by no means a market radical. Markets need regulation and a lot of the current mess is caused by lack of anti-trust enforcement. And public infrastructure is not something that can be controlled by markets.
Agreed. Every company deals with this exact same issue on a smaller scale. IT departments, building maintenance, administration, etc. All the costs to do business that don’t directly bring in profit.
I don’t get why they think a country wouldn’t have similar areas. Stuff you have to pay for, but isn’t directly helping GDP or overall success.
There are aspects of economy that certainly should be centrally planned though. A few industries that come to mind are transportation infrastructure and power generation. Private competition is good for most industries but it should never be allowed to dismantle public services for profit. When capitalism arrived in my country in the 90s it devastated our rail network since profit became more important than providing people with transportation services. There are cities of around 80k population that don’t have any rail connections now, some cities twice as large have sparse or barely any connections.
Absolutely. I’m by no means a market radical. Markets need regulation and a lot of the current mess is caused by lack of anti-trust enforcement. And public infrastructure is not something that can be controlled by markets.
Agreed. Every company deals with this exact same issue on a smaller scale. IT departments, building maintenance, administration, etc. All the costs to do business that don’t directly bring in profit.
I don’t get why they think a country wouldn’t have similar areas. Stuff you have to pay for, but isn’t directly helping GDP or overall success.