Sure it is. Consider: it took the Soviet Union more than 70 years to collapse. Someone who looked at the economic numbers of the Soviet Union in the 1920's, or even in the 1930's, might well have thought they were doing great. But they were trying to centrally manage something that's too complex and diverse to be centrally managed, and it caught up with them. Other countries are trying to do the same thing, and it's going to catch up with them as well. Or perhaps I should say "us" since I live in one of the countries (the US) that's doing this.
Sure it is. Consider: it took the Soviet Union more than 70 years to collapse. Someone who looked at the economic numbers of the Soviet Union in the 1920's, or even in the 1930's, might well have thought they were doing great. But they were trying to centrally manage something that's too complex and diverse to be centrally managed, and it caught up with them. Other countries are trying to do the same thing, and it's going to catch up with them as well. Or perhaps I should say "us" since I live in one of the countries (the US) that's doing this.