there are only three mechanisms that allocate resources at the macro level: Market, Hierarchy (planned economy), and hybrid organizations (joint ventures and all collaborations). I mean there are more and more joint ventrures now then before which replace market to a certanin extent. Or you can think that this is one way to respond to the problem with market. My point is that even if there is a problem with market due to globalization etc, planned economy may not be the solution. It is very dangerous to rely on planned economy to the overall economy. History has taught so much alrealdy.
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12/09/2006 postreply
04:46:47