When you have the blueprint of what to build with a large export market ready to buy, it's easier to plan an economy.

Modern economies, unfortunately, don't have that. The capital markets are already mature. What ventures left are uncertain. When governments pick winners there, the pie really doesn't grow.

Well regulated fair markets remain the best system in history to find a way forward to grow the pie.

Unfortunately, regulators have a habit of becoming captured by winners. The markets become no longer fair. Then real growth stagnates.

Nothing works forever.