This post is not for most people. However some regard it as one of the best posts ever. It starts out with with the problem of computing the optimum output for a centralized socialist economy. That is a extraordinarily complex problem that runs into computational limitations. Market systems have their own problems. It is clear that they do not lead to optimization, and innovation is not determined by the pricing system, or entirely by the profit motive. Neither the central planning system or the market system work to optimize output. Moreover, the market system seldom works in the way that is characterized by free marketers.
The comments that follow the article are very good as well. They are also very different from most of the threads that appear after most of the posts on the Internet. Most of the comments are very thoughtful, and they are directed toward the core questions that are raised in the post. There is none of the warfare between folks with different political philosophies which is so common on the Internet.
No comments:
Post a Comment