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New page: '''Central planning''', in economics, is the idea that government bureaucrats are better than private individuals at choosing what to produce and how much to sell it for. The prosperou...
'''Central planning''', in [[economics]], is the idea that government bureaucrats are better than private individuals at choosing what to produce and how much to sell it for. The prosperous industrialized nations of the [[democratic]] West generally believe in the [[free market]] principle whereby no transaction is made unless both buyer and seller feel that they benefit.