free market is everyone having the right exchange anything they possess with anything anyone elses possess for any price agreed upon by the two people involved in the trade. nowhere does there exist a 100% free market, for one thing a lot of substances aren’t legal to be traded in.
planned economy means any form of decisions regarding any financial transactions made by a third party. no where could there exist a 100% planned economy, because that would require far too much knowledge at one place.
where people differ in position is the degrees of which both are necessary. except for those who believe in an absolute absense of any planning, but that almost requires being insane.
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