4 ms·
IBM and Intel have centralized planning on an immense scale. It's a bit of a different situation. Giant companies can still look to prices on the market to mak
by jimmyk 10y ago
IBM and Intel have centralized planning on an immense scale.
It's a bit of a different situation. Giant companies can still look to prices on the market to make decisions about how to use their resources. Central economic planning, as I understand Hayek to have meant it, means getting rid of market generated prices.
- vyodaiken 10y agoBut he created this false dichotomy: either GOSPLAN+ or free markets (which included government actions he didn't want to call "planning"). Government provided medical care is not equivalent to Gulag Archipelago and it can also be price sensitive.