I think it is wrong to say you fear what you value. And I think timelines are important considerations as well. In the long run the economic and personal freedom we give our citizens is the best and right way, but in the short run central planning can lead to greater efficiencies and outcomes. Eventually, their style fails. However, there are efficiencies/advantages to central planning and central banking and as long as the powers that be are making good choices, central planning can lead to faster/greater outcomes. The problem with central planning is that over the long run, central planning inevitably leads to some wrong decisions because the point inevitably becomes the perpetuation of the elite/ruling class rather than the best interests of the country. But to the extent that the elite can find a way to put their personal desires for glory aside and focus on country then it can be efficient. It just rarely works out that way, and eventually bad decisions by the elite lead to bad outcomes for the public and then when the public loses faith and revolts, that's when socialism and communism show their true stripes and attempt to quell dissent with a very heavy hand. The harder the elite cling to their power and authority, the worse the outcomes for the rank and file. The problem with supporters of these philosophies is they all believe they can build a better mousetrap and avoid that last stage. But that is the very thing that causes the eventual collapse....the "I'm smarter than all of you put together" approach to governing.
Not for nothing, large governments are not the only examples of this process and failure. In many ways some corporations in the US are examples of this cycle as well. Leaders that make siloed decisions, and then when the decision is wrong, they use tricks and the blame game to hide their bad decisions and ultimately make worse decisions trying to escape the blame for the initial bad decision.
