National Economic Planning: What Is Left?

By Don Lavoie
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"National Economic Planning" by Don Lavoie offers a comprehensive examination of the complexities surrounding economic planning within a nation. Lavoie meticulously explores the role of central planning agencies, noting their potential benefits and drawbacks. He dives into the theoretical foundations of economic planning, considering the challenges of knowledge coordination and the implications for market processes. Lavoie emphasizes the importance of decentralized decision-making, arguing that spontaneous order and entrepreneurship can yield superior outcomes. Drawing upon historical examples and empirical evidence, he critiques the notion of comprehensive economic planning, advocating instead for adaptive systems that harness the power of competition and innovation. In this thought-provoking book, Lavoie highlights the need for a balanced understanding of economic planning, challenging the conventional wisdom and offering insights for policymakers and economists alike.
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