[WalterBright]

Democracy cannot adapt efficiently to crises. For example, we elect a President every 4 years. You've got a long wait. A company can adapt overnight.

> capitalist competition is ultimately driven by exactly one thing: profit for the capital owners.

Absolutely correct. And competition is what drives prices relentlessly downwards.

The democratically elected government in the 70s that tried to manage the nation's gas prices and allocations with the best of intentions failed miserably.

Democracy also created the FAA, which used to regulate airline schedules, routes, and fares. Having lived through that era, too, I can attest how costly and inefficient that was. Air fares are amazingly low since, and the scheduling is very tight and efficient at placing airplanes where the people want to use them.

> this is not because central planning is inherently bad

Nobody has ever managed to make it work. Consider rent control. Endless variations of it are implemented, and all produce the "unintended" side effects of higher prices and shortages.