gogul:

All econnomies in the wrold today are planned, or to be more accurate: managed. Since the end of the Great Depression all governments have instituted central banks that effectively manage and plan the economy. There are strict controls over interest rates, treasury bill and other bond tendering, money eupply, etc. During the Cold War capitalist countries criticized the centrally planned system of the Soviet Union, but never admitted to effectively doing the same through their central banks. A good example was this last week in which Ben Bernanke said that the USa would not raise its interest rates for the next two years. They have already "planned" to "stimulate the economy" with low interest rates. It is funny that the failure of the american economy today is similar to the failure of the Soviet economy. Back in the 1980s the Soviet Union borrowed too much money and was not able to pay back its loans. Does that sound similar to the USA (and most capitalist economies) today?