3 ms·
This is a really good statement, but I think you are missing some nuance on one statement: The "Free Market" does do a far better job of rapidly and semi-accur
by larkost 3y ago
This is a really good statement, but I think you are missing some nuance on one statement:
The "Free Market" does do a far better job of rapidly and semi-accurately allocating resources and labor than central planning.
In theory a central decider works better, and nearly every company I have ever heard of has some form of central planning as their overall governing strategy. But trying to central plan a whole economy; that takes too much information, and is too venerable to corruption. And it also requires the central planner to really understand what is "best", and consistently choosing the "right" central planners seems to require political structures we just don't have. So even in the absence of "true" corruption the decision making processes get "corrupted".
Looking at history it looks like some sort of market economy with legislators making rules to keep the market from doing bad things (e.g.: externalizing things like global warming, or killing people in meat processing plants) is the best solution that humanity has yet invented.