3 ms·
I am certain there is a capitalistic equivalent of the economic calculation problem. In a planned economy, good decision making is impossible above a certain l
by jl6 5y ago
I am certain there is a capitalistic equivalent of the economic calculation problem.
In a planned economy, good decision making is impossible above a certain level of scale and complexity, because it’s infeasible to get the right information on all relevant factors and constraints to the decision makers.
In a market economy, good purchase decisions are impossible because the supply chains are opaque and complex and by the time anyone has figured out the true quality of something, it’s no longer made in the same way.