Unregulated capitalism isn’t any better, but for an example, there was mass starvation in the USSR doing some 5 year plans.
Ultimately you can’t account for every factor - humans, weather, etc. Markets are more efficient than planning in some aspects, but you can’t allow rent seeking capitalists to exploit everyone either. Nationalize everything truly important and what’s allowed to exist as private enterprise, should be heavily regulated.
Unregulated capitalism isn’t any better, but for an example, there was mass starvation in the USSR doing some 5 year plans.
Famine was regular in Tsarist Russia, once farming was collectivized and industrialized famine ended.
Ultimately you can’t account for every factor - humans, weather, etc. Markets are more efficient than planning in some aspects, but you can’t allow rent seeking capitalists to exploit everyone either. Nationalize everything truly important and what’s allowed to exist as private enterprise, should be heavily regulated.
The 5 year plans were part of what made it so bad, too.
I’m not saying completely free markets are the solution, but a totally planned economy is set to fail because it’s impossible to plan for everything.
What do you mean? Can you provide an example, and how Capitalism can better account for it?
Unregulated capitalism isn’t any better, but for an example, there was mass starvation in the USSR doing some 5 year plans.
Ultimately you can’t account for every factor - humans, weather, etc. Markets are more efficient than planning in some aspects, but you can’t allow rent seeking capitalists to exploit everyone either. Nationalize everything truly important and what’s allowed to exist as private enterprise, should be heavily regulated.
Famine was regular in Tsarist Russia, once farming was collectivized and industrialized famine ended.
None of that is specific, all of that is vibes.