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I was surprised to see no mention of Chile's Project Cybersyn: https://en.wikipedia.org/wiki/Project_Cybersyn https://en.wikipedia.org/wiki/Project_Cybersyn T

• csdvrx 3y ago
  > There is an argument to be made (and indeed it seems it has already, in this book : https://en.wikipedia.org/wiki/Towards_a_New_Socialism https://en.wikipedia.org/wiki/Towards_a_New_Socialism ) that with modern networking, data speeds and computing capacity, a centrally-planned economy could work. With the minor assumption that P=NP
• WillPostForFood 3y ago
  "with modern networking, data speeds and computing capacity," Sounds like some 5G level hype right there.
• eestrada 3y ago
  > with modern networking, data speeds and computing capacity, a centrally-planned economy could work. Ludwig von Mises' whole point is that you are working with unknowable inputs, so you can never calculate correctly. This is why a socialist, centrally planned economy can never work. For example, people's preferences are unknowable before a transaction takes place. And, no, surveys don't work because what people say they want and what they actually spend their money on are different things. No amount of computational power can create outputs for unknown and unknowable inputs.
  • littlestymaar 3y ago
    > No amount of computational power can create outputs for unknown and unknowable inputs. That's the entire point of this tiny branch of math called probabilities though …