"Under capitalism each individual engages in economic planning"

This quote by George Reisman is describing the financial system of commercialism. Under commercialism, individuals are cost-free to make their own economic decisions and also seek their very own economic goals. This means that each person is in charge of their own financial preparation. This can consist of deciding just how to assign their sources, what financial investments to make, and exactly how to maximize their earnings. This economic flexibility permits individuals to pursue their own financial rate of interests and create wide range for themselves. This is in contrast to various other financial systems, such as socialism, where the government makes economic choices for the entire population. Industrialism enables people to make their own economic decisions and also take obligation for their own financial planning.