Sunday, January 31, 2016

Cities Made by Decree to Meet GDP Targets not the Public Good

China's Obsession with GDP Targets Threatens its Economy is an example of how authoritarians go wrong. An economy with just a few big hands manipulating levers can never reach the same level of public good as many players interacting among each other can in sussing out the true costs and benefits.  China made cities by decree, that no one lives in these cities because there was no price benefit mechanism to determine that they were wanted is the problem.

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