Why a One Man Show Never Works, Especially in Economics

The Economy of North Korea is ‘centrally planned’; meaning most of the money is controlled by the government, citizens can only buy from government stores and they only receive money from their state jobs. The problem with this is whilst an entrepreneur their mistakes as their company will suffer because of them a dictator isn’t the one realises who pays for his mistakes so he often doesn’t realise the full effect of his mistakes until it is too late. The dictator’s of North Korea don’t use the things that are made in factories, so they don’t realise that whilst the citizens will use the products as they have no choice they won’t sell any exports because everyone else has better alternatives. This results in no money from abroad. Meaning the government can’t afford to lose money through exports. They are always guaranteed food to eat and a comfortable bed to sleep in so the don’t have to be fully aware of the food they are taking away when they yet again develop their nuclear program.