Steven Rattner's 5-Year Plans Aren't Even Fit for Cable

Imagine my shock when I saw Steve Rattner on Fareed Zakaria's GPS Sunday morning program claim that China's form of state capitalism (rife with 5-year plans) was outperforming our comparatively hands-off form of capitalism. He bemoaned our lack of a government economic plan. Back in 1999, I was in Tanzania relaxing by the pool at …