Plan versus Market in the Contemporary World

Plan versus Market in the Contemporary World Prabhat Patnaik The case for planning emerges strongly in the contemporary world of vastly enhanced mobility of finance capital not so much because within a given universe planning is superior to the market, but as a mechanism for changing the universe of decision-making. Globalisation in the era of financial mobility, it is demonstrated here, dooms economies like ours to a perennial state of low and highly unstable growth. The need for planning arises in this very context, though the outlines of the planned regime would not necessarily resemble any of the different versions of planning we have had till now.