It is a popular error that bureaucracy is less flexible than private enterprise. It may be so in detail, but when large scale adaptations have to be made, central control is far more flexible. It may take two months to get an answer to a letter from a government department, but it takes twenty years for an industry under private enterprise to readjust itself to a fall in demand.
Joan RobinsonRosa Luxemburg maintained that the capitalist system can keep up its rate of investment (and therefore its profits) only so long as it is expanding geographically.
Joan Robinson