4 ms·
The problem with centralized totalitarian/socialist/dictatorial governments is that they can be hijacked by an idea and over-execute on it with no feedback from
by dzink 2y ago
The problem with centralized totalitarian/socialist/dictatorial governments is that they can be hijacked by an idea and over-execute on it with no feedback from the people, until the resources really needed are blown out. In capitalism, companies specialize on human needs and if a need goes away, investments can go down rapidly, unless the feedback loop is guarded by some government regulation. But when government is doing the investing, the whims or corruption of politicians has no feedback loop.
- treyd 2y agoThis is why a lot of the academic work on economic planning over the last ~30 years has been on shifting the coordination and decision making down on the hierarchy closer to where it's relevant and where the people impacted by some decision have the most to say about it, and instead aggregating statistics and issues upwards for high-level visibility (instead of taking a "top down" approach to planning). This naturally involves leveraging the communication infra and analysis tools we have today that just didn't exist in the past.
- rapsey 2y agoAcademic economics is cargo cult science.
- potato3732842 2y agoBeing an industry full of people who's mostly worked their whole careers in centrally planned institutions I have full faith that they'll screw it up. Academia has (to use a broad brush) been lusting after various flavors of central planning for a century. Why would they stop now? (That's a serious question, why are conditions different now?)
- euroderf 2y ago> The problem with centralized totalitarian/socialist/dictatorial governments is that they can be hijacked by an idea and over-execute on it with no feedback from the people This sounds like a political-economic analog of AIs consuming AI slop.