The Case Against Planned Economies

Lane argued that both communism and capitalism, when excessively planned, ultimately stifle individual freedom and economic progress. She posited that in a planned economy, the government establishes a monopoly over production, which restricts competition and innovation. This leads to a concentration of power that undermines the very values of justice and equality that proponents of such systems seek to achieve. Contrary to the notion that planned economies protect the vulnerable, Lane highlighted that true prosperity arises from a freed market driven by spontaneous order, providing equal opportunities for all.