Ludwig von Mises on the paradox of "planning"

We may admit that in its initial period a socialist regime could to some extent rely upon the experience of the preceding age of capitalism.  But what is to be done later, as conditions change more and more?  Of what use could the prices of 1900 be for the director in 1949?  And what use can the director in 1980 derive from the knowledge of the prices of 1949?

The paradox of "planning" is that is cannot plan, because of the absence of economic calculation.  What is called a planned economy is no economy at all.  It is just a system of groping about in the dark.  There is no question of a rational choice of means for the best possible attainment of the ultimate ends sought.  What is called conscious planning is precisely the elimination of conscious purposive action.

~ Ludwig von Mises, Human Action, pp. 700-701

Confucius on planning

If a man takes no thought about what is distant, he will find sorrow near at hand.

~ Confucius

(Quoted by Jim Rogers in A Bull in China, p. 12.)

Mike Tyson on best laid plans

Everybody has a plan until they get hit. Then, like a rat, they stop in fear and freeze.

[...]

If you’re good and your plan is working, somewhere during the duration of that, the outcome of that event you're involved in, you're going to get the wrath, the bad end of the stick. Let's see how you deal with it. Normally people don’t deal with it that well.

~ Mike Tyson, boxer

Marc Faber cites the wisdom of Confucius

If a man gives no thought about what is distant, he will find sorrow near at hand.

~ Confucius

(cited by Marc Faber, editor, Gloom Boom & Doom Report, July 22nd, 2010)