central planning
| Alternative name for command economy. |
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central planning |
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central planning
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| Turns out it has a lot to do with Friedrich Hayek's insight that central planning of markets is bound to fail because of the inability of any planning body to gather enough information that is current enough and interrelated enough to act intelligently. In each case, the "fatal conceit" was that central planning could create something more efficient than the self-ordering process of a free economy, something more orderly, more equal--and a system where intellectuals and government planners would have a greater hand in calling the shots in order to keep things shipshape. She started as director of merchandise and finance of its Disney Stores division before becoming chief financial officer of its catalog, chief financial officer for North American stores and finally vice president of strategic central planning and allocation. |
| Hutchinson Encyclopedia |
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