Planned economy cannot be innovative!

67 thoughts on “Planned economy cannot be innovative!”

  1. Wow! You must love economics to be able to post something like this since you are a Junior Economist as well. Great to see Switzerland, Australia and New Zealand on those lists as they are the Countries close to my heart as we have relations and NZ is my home.

    Liked by 7 people

  2. You do have a great understanding of economics for such a young talented man. You must go to University or College some where ? If not you should because the world needs more economists who understand that a free market economy is the best way for now. One day I would imagine someone like you would or might discover a way of melding all these economic models into a great way to increase productivity and quality through R&D. I really enjoyed your blog as it explained clearly how each economy works. Keep writing and creating these great works !!

    Liked by 6 people

    1. Thanks for your kind words,that made my day. I am just 11th grade high school student. And for sure i will keep writing and sharing my ideas about economics .Thanks again taking time and sharing your opinion😁

      Liked by 4 people

      1. You are very welcome Cavid. I have studied economics in College and enjoyed it. Plus, I was active in the labour Movement over here in Canada. Economics was always a large part of that. I wait for more of your outlooks on economics and reform if any ideas come to you. I am glad I stopped and read your blog today.

        Liked by 4 people

      2. That is a very worth while goal in your life for you to achieve. I think you will succeed with ease as you have a great understanding of Economics at such a young age Cavid.

        Liked by 1 person

      3. With such a great knowledge and level of understanding at such a young age, you have a bright future ahead!
        And my late mother (she expired in 2008) was also an Economics Teacher at College level!

        Liked by 2 people

    1. Well,expected role of government is to let companies to operate market unless there is a failure occurs at which governmet gets involved in order to prevent welfare loss and also let both private and public companies to compete and come up with new ideas.I am not exactly telling that government needs to cut all relations with companies but it has to be open for innovation and competition.

      Liked by 5 people

      1. In India, Govt. companies in diverse sectors like Telecom, Airlines have proved to be highly inefficient and taxpayers’ money suckers.
        Government owned enterprises are fine for Heavy Industries and Mining etc to avoid large scale ownership of wealth in a few hands, but barring these and Defence, Government should stay out.
        And planning needs to be a guiding tool, not something that chokes good growth and development.

        Liked by 2 people

  3. Firstly, I am quite impressed to read something such as this from a high school student.

    And a great deal of what China has accomplished, especially in the Shenzhen region, has certainly been due to allowing a sort of “Wild West” attitude… but also while providing economic and infrastructural support. That adventurous attitude has allowed for a great deal of innovation and productive entrepreneurship. But the support has also been costly to the central government, especially when considering that the domestic portion of the economy has been paying for it with an artificially inflated currency. Now the central government seems to be shifting toward involving itself in the management of larger and more organized businesses… Alibaba is a recent example. This is likely to keep a hand in institutions that can compete for hard-currency against the US large-corporate models and their European and Asian counterparts. It will be interesting to see if China can continue to encourage innovation as its central government increasingly takes a roll in its own large-scale business development.

    Liked by 3 people

  4. Nice article, Cavid. Just be careful of comparing the merits/failures of these diverse systems. Innovation is only one measure of market success. The planned economies of the “communist” countries were experimental at best, and were not managed well, and were not flexible. Yet, unfettered capitalism leads to monopolies, cabals, and a disproportionate ratio of wealth to poverty. Responsible governments need to weigh/consider the needs of the people vs. the desires of the corporations. They do this through appropriate regulations, and an equitable tax system. Extremes – of any kind – are generally not healthy/productive. The best economies are a sort of hybrid.
    Keep up the good work though!
    — YUR

    Liked by 3 people

  5. Reblogged this on CRAZY LIFE and commented:
    I have no clue about economics. I do have a clue about humans. This kid, he is 16 from Azerbaijan recently started following me. I said I have no clue about economics because his blog is about economics and at 16 years old seems his a prodigy.
    I know my head wasn’t on that topic at his age, not even now…. This kid is the Einstein of Economics (might even hire him when he turns 18 to take care-invest my money…) and I thought that seeing all the youngsters around my town doing nothing with their lives, no direction at all, I thought this kid is a great story. Kids like him are the ones who will make function the world for the better I believe. He has the hunger, the drive, the smarts obviously, all great qualities that are focused in the right direction.
    I just figured to give him as much audience as I could possible can.

    Liked by 1 person

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