Central planning was the method used in the communist system for making commodities. It failed because the

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Central planning was the method used in the communist system for making commodities. It failed because the planners lacked the information and motivation to direct an increasingly complicated economy. Instead of being inevitable, socialism proved to be impossible. Making laws is not so different from making commodities. Contrast centralized and decentralized ways of making laws.

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Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

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