Definition – A centrally planned economy is an economy where decisions on what to produce, how to produce and for whom are taken by the government.
Central planning is associated with a Communist economy; the theory is that the government will overcome market failure and achieve equality of distribution. Supporters of centrally planned economy argue that when economic decisions are left to the free market. Monopolies emerge to exploit consumers. Furthermore, the Capitalists (those who own private property) can earn money through the labor of others.
Centrally planned economies assume that the market does not work in the best interest of the people and that a central authority needs to make decisions to meet social and national objectives. These justifications are often made on the grounds of egalitarianism, environmentalism, anti-corruption or anti-consumerism, which proponents of central planning do not consider that the free market adequately addresses. The state can set prices for goods and determine how much is produced, and it can focus labor and resources on industries and projects without having to wait for investment capital from the private sector.
Hillary Clinton announced a new plan Friday to crack down on drug companies that substantially hike the prices of prescriptions, reacting to public outcry over the 500% increase for EpiPen's lifesaving allergy treatment injector. Clinton's proposal would fine companies that jack up prices, and would ease the way for competitors at home and abroad to offer alternatives.
"It’s time to move beyond talking about these price hikes and start acting to address them," Clinton said.
"All Americans deserve full access to the medications they need — without being burdened by excessive, unjustified costs," she said. Clinton said she is "ready to hold drug companies accountable when they try to put profits ahead of patients."
The proposal will become part of Clinton's broader effort to lower prescription drug prices, the campaign said.
Hillary, like all Marxists who advocate central planning, never mentioned the burdensome regulations for foreign companies to have drugs approved for sale in the United States. Hillary, like all Marxists who advocate central planning, never mentioned the burdensome regulations that prevent current domestic companies from entering the market. Hillary, like all Marxists who advocate central planning, never mentioned the burdensome regulations for a start-up company to enter the market.
Hillary, like all Marxists who advocate central planning, never mentioned that it is the burdensome regulations advocated and implemented by the Marxists that have created this very situation they are now denouncing. Hillary and the current Marxists are doing what Marxists have always done; they are blaming the capitalist for the situation they have created. Hillary is using the same old time worn statement of “no profits before people.” Marxists, being the most non-compassionate of all people, always rely on their standard lie to advance their cause; “we are for the little people.”
History has proven that central planning has always failed. History has proven that bureaucrats are incapable of planning an economy. Central planners have always allowed politics, prejudices, and theory to control their decisions. Entrepreneurs and business people have had to conform to the wishes of the consumer.
The entrepreneur and business person must react quickly to the market place. If they do not, they are out of a job and the business is broke. The bureaucrat makes excuses for his mistakes. In the typical bureaucracy, that bureaucrat is either praised for his innovation that the public did not recognize and given a pay raise, or they are promoted to a higher level in the bureaucracy where they are even more incompetent.
In a free enterprise system there are consequences for the decisions that are made; good consequences and bad consequences. In a centrally planned economy, there are never consequences for decisions, there are only consequences for those who do not adhere to the ideology of the people in power.
Hillary is proposing central planning in the drug industry. We currently have central planning in our public education system. We currently have central planning in the VA health system. We are moving to central planning in our medical industry. Every one of these industries is preforming in a more corrupt, less efficient, and with lower performance levels each and every year. This is the result of central planning. Hillary wants more of this. Marxist/Progressives would have us believe that the whole economy should be centrally planned. Ask Venezuela how it works.