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

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

In his 1932 book ''A Planned Society'', George Soule argues that the [[World War 1]] era [[War Industries Board]] is a model for planning.<ref>[https://books.google.com/books/about/A_Planned_Society.html?id=yGVMAAAAIAAJ A Planned Society]</ref><ref>{{cite book|url=https://books.google.com/books?id=ituDR07GtooC&pg=PA116|last1=Stabile|first1=D. R.|last2=Kozak|first2=A. F. |title=Markets, Planning and the Moral Economy: Business Cycles in the Progressive Era and New Deal|date=2012|publisher=Edward Elgar Publishing|isbn=978-1781006771|pages=116}}</ref>

In his 1932 book ''A Planned Society'', [[George Henry Soule Jr.]] argues that the [[World War 1]] era [[War Industries Board]] is a model for planning.<ref>[https://books.google.com/books/about/A_Planned_Society.html?id=yGVMAAAAIAAJ A Planned Society]</ref><ref>{{cite book|url=https://books.google.com/books?id=ituDR07GtooC&pg=PA116|last1=Stabile|first1=D. R.|last2=Kozak|first2=A. F. |title=Markets, Planning and the Moral Economy: Business Cycles in the Progressive Era and New Deal|date=2012|publisher=Edward Elgar Publishing|isbn=978-1781006771|pages=116}}</ref>

==See also==

==See also==

==References==

==References==

{{Economic preparedness topics}}

{{Economic preparedness topics}}