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"A market economy is better at allocating resources efficiently than a command economy" It was that way, agreed but might not always be that way. Because free
by mythrwy 9y ago
"A market economy is better at allocating resources efficiently than a command economy"
It was that way, agreed but might not always be that way.
Because free market economies have their own share of inefficiencies and moral hazards and certainly cannot be the efficiency pinnacle of human civilization.
I don't know what computers and networks will be capable of in the future, but it's worth noting that command economies failed in the time before these things really took off. The weak link has always been people who's brains developed in a time when they were monkeys scrabbling under trees and screeching at their fellows. No wonder they can't efficiently run big systems. But it's becoming evident maybe these tiny self centered brains are just big enough to design something that _can_ run a complex system efficiently.
- kesselvon 9y agoMarket economies are good at allocating resources, but they're also good at concentrating resources, which kills the market. And in some sectors, markets don't benefit the social fabric as a whole, hence why intervention into markets is often necessary