Write a detailed blog post with the title "Economy and Administrative Planning". The context here is in reference to developing economies mostly in Sub Sahara Africa and in Latin America. The blog post is about "Economy and Administrative Planning". The blog post should start with an introduction to Economy as a social science subject. A brief intro into supply and demand concerning the local economy vis a vis world economy. Then, delve into the advancements and breakthroughs in Economics when utilizing latest AI applications. Finally, conclude with a look towards the future, speculating on the potential developments and trends for these regions vis a vis world economical outlook. The blog post should be informative, engaging, and accessible to both technical and non-technical audiences.