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There's a reason centrally planned economies are abject failures. People are incapable of anticipating all of the cascading effects of a "sensible" policy
by Ferret7446 7mo ago
There's a reason centrally planned economies are abject failures. People are incapable of anticipating all of the cascading effects of a "sensible" policy
- crooked-v 7mo agoWell, yeah, that's how we got cities with a huge amount of land dedicated to economically parasitic parking lots in the first place.
- rootusrootus 7mo agoThat seems like a confirmation of the point more than a refutation. The parking lot problem is not a free market phenomenon, it's a result of regulation's unintended side effects.
- edmundsauto 7mo agoThis is also a feature of distributed economies; it’s just the communication overhead to make a change centrally means that bad decisions are less easily repaired. AI and electronic data feeds seriously could be tried to fix this. There are good advantages to a centralized economy… the trick is getting the objective function right. And it’s not like modern capitalism has done a good job of that anyhow.