I am surprised you decided to double-down on this.

Planned Economy

Quote:
A planned economy is an economic system in which decisions regarding production and investment are embodied in a plan formulated by a central authority, usually by a government agency.

he most extensive form of a planned economy is referred to as a command economy, centrally planned economy, or command and control economy. Implementation of this form of economy is called planification.


When right uses "central planning" they refer to "command and control" economy. It is often even paired with "X is central planning and will lead to communism". Typical concern being that any government intervention will take us closer to communism. This is irrational fear from by-gone days of Cold War. When Ron Paul ranted that FED is "central planning", he wasn't complaining about controls, he was hitting common right's talking point with "and is communism" left unsaid but well understood.

You are right, US is mixed economy. Pure free market, just like command and control economies are highly inefficient. Some regulation always have to exist, some planning always have to be done and some decisions always better be left to free enterprise and market forces. Drawing ideological lines in the sand, instead of following pragmatic rules, is what causes most economic damage.

It is illogical to attack FED for exercising controls over economy, it is in FED's mandate. Equating such controls to "central planning" at best tautology, and at worst (with unsaid, but well-understood implications) gross misrepresentation and pandering to the illiterate right.

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