If we are talking about central planning, regulation or any other such term, I suggest that people should read Friedrich von Hayek's book The Road to Serfdom, first published in 1944.
The core of his argument is that central planning and government control of the economy leads to inefficiency, loss of individual freedom, and ultimately, totalitarianism. He wrote based on the experience of developments in the Soviet Union, Italy and Nazi Germany, but his theory has been confirmed after his death by developments in, for example, Russia (again), the People's Republic of China, and North Korea. Other examples are available.
To those that say that such developments could not happen here I would say that the price of freedom is eternal vigilance. Be very, very careful what you wish for.
von Hayek was born in Vienna in 1899, taught at the London School of Economics for some twenty years and became a British citizen in 1937 He died in 1992 having been awarded the 1974 Nobel Prize in Economics which he shared with Gunnar Myrdal.