How do you have a planned economy with a democracy and elections? You believe people are capable of making decisions as to what it takes to run each and every business, or even if they only vote to pick one person to run one company, you think they can know the person's qualifications, how well they will fit into the company, and be able to evaluate their ongoing performance?
Even better, you think people will actually take the time to study these things before voting, instead of turning the entire planned economy into a popularity contest?