Pros and cons of market and planned economies.

The advantages of a market economy are its flexibility and responsiveness to consumer demands. A market economy requires a less complex management apparatus during its growth. The downside of a market economy is the ease with which capital flows into more profitable areas of the economy, the migration of capital out of the country, the difficulty of getting the economy out of a crisis, and the impossibility of preventing crises.

In a planned economy, development is a little slower, and consumer demands can be ignored for a long time. At the same time, the planned economy is less prone to crises and capital in it is directed to where it is most needed, and not the most profitable.