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> Central planning might appear as a "good idea", until your linear programming model has to deal with factors of production that are counted in small quantitie
by baybal2 6y ago
> Central planning might appear as a "good idea", until your linear programming model has to deal with factors of production that are counted in small quantities (eg. highly specialized machinery), at which point the so called "tragedy of the integers" degenerates any model you throw at the problem.
Central planning might appear as a "good idea", until your linear programming model runs into a typical union bureaucrat.
Attributing the failure of union's system to "bad math" is like saying a man dying from old age dying from a heart disease.
The biggest reason, eclipsing all others, for the economic ruin of the union was the extreme, omnipresent corruption of everything economics.
- triangleman 6y agoAnd now we have two good arguments against central planning, just off the cuff. Academically and rhetorically, Hayek demolished the idea some 75 years ago.