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> Was it missing the quantized world we live in now, with increases in information processing and communication? Is there an AI advancement in our near future t
by sdfghswe 3y ago
> Was it missing the quantized world we live in now, with increases in information processing and communication? Is there an AI advancement in our near future that can outperform the free economy?
Einstein would tell you that we should be quantizing less, not more! :-)
No, it's not just a matter of quantifying more. The hard part of planning an economy is less "if I gather all the data in the world then planning an economy just becomes an optimization problem" and more "the biggest components in planning an economy is that A) how much individuals "need" of something depends on how painful it is for them to get it, and B) the individuals themselves wouldn't be able to tell you what this relationship is".
The best known way for you to get feedback on how much someone wants something is putting it out there and see how much they'll pay for it.
- sudosysgen 3y agoYou can do that in planned economies, and historically that's what's been done. You let people try products with the surplus, basically acting as a VC fund, and if people buy that product at a price beyond that of production you make more, otherwise you make less. A market for labor and for consumer goods has been a part of every planned economy. It really is the optimization and the logistics that was the difficult problem historically.