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That's called "central planning". Central planners simply can't collect the right information anywhere near quickly enough to make efficient decisions. Modern
by chmod600 5y ago
That's called "central planning". Central planners simply can't collect the right information anywhere near quickly enough to make efficient decisions.
Modern computing means it works for quantifiable things. But when it's something like inconvenience, it's hard to quantify and central planning will still fail.
- freemint 5y agoWhy are people so ignorant of the discipline of optimization? If you know it's within some interval you can just so robust optimization, if even that fact is unknown there is distributionally robust optimization. Central planners don't need perfect information either and infrastructure is more easily build to accommodate a central planner then a market of spatially distributed decision makers. If you find optimization to authoritarian try multi-objective optimization where people vote where on the Pareto front they want to go.
- chmod600 5y agoCan you provide an example of how that would have resulted in better gas cans for the allies earlier?
- freemint 5y agoCan you provide an explanation how getting better gas cans to the front line was not "Central planning" during a war time command economy? Or how more market forces on the German side lead to the right information being discovered quickly enough to make efficient decisions while it didn´t in the others countries?