Nevertheless, it is necessary to remember that a planned economy is not yet socialism. A planned economy as such may be accompanied by the complete enslavement of the individual. The achievement of socialism requires the solution of some extremely difficult socio-political problems: how is it possible, in view of the far-reaching centralisation of political and economic power, to prevent bureaucracy from becoming all-powerful and overweening? How can the rights of the individual be protected and therewith a democratic counterweight to the power of bureaucracy be assured?
About this quote
- What does it mean?
- A planned economy does not guarantee socialism and can lead to individual enslavement if bureaucracy is unchecked.
- In plain terms
- A planned economy can enslave people if bureaucracy grows too powerful.
- What can you take from it?
- Protect individual rights when centralizing economic planning.
Where it applies
Putting it to work
Questions to consider
- Can you have freedom with central planning?
- Who checks the bureaucracy?
Another view
Some level of centralization is needed for coordination.
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