In the chapter “Economic Control and Totalitarianism” from the book The Road to Serfdom, the author F.A. Hayek, talks about the differences between an unplanned and planned economy. Hayek goes on to explain how a planned economy could hinder people’s opportunity to be individualistic and part of a sound society. Hayek talks about how in an unplanned economy, everyone can make it and have the right to be individuals. He also scrutinizes planned economies for being too over bearing. With these views in mind, unplanned economies are far superior to planned economies because they allow for the individualistic innovations companies can bring, the economic growth, and the better quality of products and conditions an unplanned economy provides.
Unplanned …show more content…
I fit best into an unplanned economy because of the competition that occurs. I like to know that there are other options for goods that I would purchase. I also like how this causes the production of better quality products. Knowing that companies care about consumers is a big part of why I feel like an unplanned economy is best for me. This also goes with how I see the economy I am a part of. I see that the U.S. could be considered an unplanned economy. I see it as one because competition can be seen from companies trying to get their products sold. There are so many different phone companies and different types of phones alike. These phone companies are always trying to best each other with new features and new iterations on their products. Apple is constantly making new phones but has put customers in a tricky spot with their new phones. These new phones don’t have a port for aux wired headphones. The phones use lightning cables for headphones and charging the like. They tried to stop this issue with the new introduction to wireless charging. While companies like Samsung continue to make a port for aux wired headphones. These styles and strategies are the competition that unplanned economies bring when implemented. Stores are also competing for chance to bring consumers in. The 99-cent store has been recently bringing in name brand items. I have been there many times and can say that I had never seen Frosted Flakes or Fruit Loops there before. When compared to the Dollar Tree, this is something that went well for the 99-cent store. I would rather buy trusted products than generic brand items that the Dollar Tree sells. These showcases of competition and different pricings for similar products are what show the type of economy you’re
Unplanned …show more content…
I fit best into an unplanned economy because of the competition that occurs. I like to know that there are other options for goods that I would purchase. I also like how this causes the production of better quality products. Knowing that companies care about consumers is a big part of why I feel like an unplanned economy is best for me. This also goes with how I see the economy I am a part of. I see that the U.S. could be considered an unplanned economy. I see it as one because competition can be seen from companies trying to get their products sold. There are so many different phone companies and different types of phones alike. These phone companies are always trying to best each other with new features and new iterations on their products. Apple is constantly making new phones but has put customers in a tricky spot with their new phones. These new phones don’t have a port for aux wired headphones. The phones use lightning cables for headphones and charging the like. They tried to stop this issue with the new introduction to wireless charging. While companies like Samsung continue to make a port for aux wired headphones. These styles and strategies are the competition that unplanned economies bring when implemented. Stores are also competing for chance to bring consumers in. The 99-cent store has been recently bringing in name brand items. I have been there many times and can say that I had never seen Frosted Flakes or Fruit Loops there before. When compared to the Dollar Tree, this is something that went well for the 99-cent store. I would rather buy trusted products than generic brand items that the Dollar Tree sells. These showcases of competition and different pricings for similar products are what show the type of economy you’re