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But in many cases the calculation problem is smaller than the problems in a specific market. It seems clear that a whole economy cannot be centrally controlled
by socialdemocrat 6y ago
But in many cases the calculation problem is smaller than the problems in a specific market.
It seems clear that a whole economy cannot be centrally controlled but that does not mean that parts of it isn’t better controlled by planned economics than be market economics.
It would be wrong to assume one size fits all.
One can also have hybrid systems. Where the value of market decisions is understood but where a central planner has some important insights which he can use to tweak a market to work better.