Economic Planning: Promises and Pitfalls

There will be a marked increase in national economic planning and public ownership in the United States during the next five or so years. Such a prediction, one might suppose, should immediately call forth leftist hurrahs. But if we analyze some current proposals in the light of socialist ABCs, the matter comes to seem quite ambiguous, requiring a response considerably more complex than a cheer. The heart of the issue is, or should be, a matter of ancient wisdom—that the nationalization of ...