{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/62ef9f1c81fbba00125b204d/6888c0d96ba6bf2e17c4dd9c?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"The need for central planning","description":"<p>In one of his many walks around his neighbourhood Phil has been listening to a book, <em>The People's Republic of Walmart</em>, by Leigh Phillips &amp; Michal Rozworski. Basically, a contrarian economist and a journalist teaming up together. Could such a combination ever really work?</p><p><br></p><p>The book highlights how part of Walmart’s success story was its meticulous central planning, in contrast to Sears, a business decimated by an adherence to a market based internal structure. 30 internal division competed for resources, including shelf space.</p><p><br></p><p>Clearly, Walmart’s focus on delivery helped it succeed. So, shouldn’t the same approach be used in the broader economy? When should we choose planning over open market competition?&nbsp;&nbsp;</p><p><br></p>","author_name":"Steve Keen & Phil Dobbie"}