Planned economics is enjoying yet another revival. Climate protection advocates and anti-capitalists are demanding that capitalism be abolished and replaced with a planned economy.

Otherwise, they claim, humanity has no chance of survival.

In Germany, a book called Das Ende des Kapitalismus (Englisch: The End of Capitalism) is a bestseller and its author, Ulrike Hermann, has become a regular guest on all the talk shows. She openly promotes a planned economy, although this has already failed once in Germany—just like everywhere else it has been tried.

Unlike under classical socialism, in a planned economy, companies are not nationalized, they are allowed to remain in private hands. But it is the state that specifies precisely what and how much is produced.