Comment by ajmurmann
17 hours ago
That's how planned economies worked under "proper" communism in the Soviet Union or pre-Deng and how we ended up with stories about factories only baking giant screws to meet weight quotas to the switch to tiny screws to meet quantity quotas while no medium-sized screws people actually needed for produced.
Two distinct words night be useful to distinguish between planned without any market feedback and heavy industrial policy like we see in China now. In fact the CCP recently voiced their impatience with Cuba refusing to introduce market-oriented reforms.
fair enough —- I need to read up more on the usage, but I find it surprising for “planned economy” to imply the former