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Again, utter nonsense. This is human psychology reacting to a market, and nothing to do with the control of capital. In a centralised capital control economy s
by Guthur 6y ago
Again, utter nonsense. This is human psychology reacting to a market, and nothing to do with the control of capital.
In a centralised capital control economy such as communism it is well documented that there was hoarding as well, communism never removed the human component no matter how much they tried.
Centralised planning fails utterly as the complexities of the supply systems are way beyond are current abilities to project. And fully planned economies have well documented failures anyway so your comment about this being a problem of capitalist systems is fully disingenuous; or maybe they were just not socialist enough, right?.
What we had here in this instance for semiconductors was a confluence of factors that I doubt anyone would have planned for. Also I feel much of it is sensationalized. We are talking super high end consumer electronics for the most part. The leading few nodes of production are mostly Apple for example and the further back in the production node you go the more players and capacity is available.
- remarkEon 6y ago>Centralised planning fails utterly as the complexities of the supply systems are way beyond are current abilities to project. The price signal being the major data input that informs production plans. In centrally planned economies, they basically just guess. They'll lie to you and say it's possible to "predict" demand. And when supply constraints happen, well I'll be damned it's the friends of all the Party members that get their share first.