Central planning was just not good at replacing what the great eighteenth-century economist Adam Smith called the __nvisible hand_ of the market. When the plan was formulated in tons of steel sheet, the sheet was made too heavy. When it was formulated in terms of area of steel sheet, the sheet was made too thin. When the plan for chandeliers was made in tons, they were so heavy, they could hardly hang from ceilings.
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Daron Acemoglu
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About Daron Acemoglu on QuoteMust
Daron Acemoglu currently has 2 indexed quotes and 2 linked works on QuoteMust. This page is the canonical destination for that author archive.
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James Robinson
Why Nations Fail: The Origins of Power, Prosperity, and Poverty
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