Central-Planned Economies Don't Work

CHARLES KRAUTHAMMER: It's precisely why historically centrally-planned economies don't work. The Soviets had a plan for this much steel and this much concrete and it had no response to what was out there in the market and they overproduced. So, they had a lot of production numbers and they had an economy that was unworkable. Here these people are deciding if you're a single male in your 60s, you don't need the maternal care, you don't -- you've never smoked dope, you don't need the substance abuse stuff. You want a catastrophic plan which is very rational, but Jay Carney is saying, you know, 'you're too stupid to understand what you want.' Once you eliminate the market response, which is a lot of people decide I know what I want better than the bureaucrat and they're eliminating this. That's the essence of what's happening and that's why it's not going to work.

Source: http://www.realclearpolitics.com/video/2013/10/28/krauthammer_jay_carney_is_saying_youre_too_stupid_to_understand_what_you_want.html
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