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You can't really knock this one on central planning alone, more that central planning didn't really understand That sums up the problem with central planning.
by 300bps 11y ago
You can't really knock this one on central planning alone, more that central planning didn't really understand
That sums up the problem with central planning. There are too many variables for any individual or organization to track let alone make decisions on.
- vezzy-fnord 11y agoIt's more accurate to say this is the problem with central planning in the large ("command economies" in the context of a nation state) where issues with calculation and signal distortion start to set in. Otherwise central planning in the small with the likes of cooperatives or business plans is pretty uncontroversial, as they harbor less externalities.
- hydrogen18 11y agoYou say this is a problem with "central planning in the large". That is just a problem with central planning. Otherwise the opposite would be "central planning in the small". One person selecting the dinner location for four friends doesn't constitute central planning.