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The idea that you can "manage" an economy is known as the (socialist) calculation problem, and was raised as an issue last century by (amongst others) the Austr
by duncan_bayne 10y ago
The idea that you can "manage" an economy is known as the (socialist) calculation problem, and was raised as an issue last century by (amongst others) the Austrian school.
Simply put, it's impossible, and the harder you try, the more death and misery you create in the long term.
- duncan_bayne 10y agoCurious about the reason for the downvotes here - the calculation problem has been one of the strongest economic (as opposed to moral) arguments against socialism, for decades.