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Contextual Citation Liz Barry: "Thanks to the rise of the Internet, many people around the world are today sending many signals to many other people and/or governments with many tools, most of which were never designed for diverse constituencies to ...
- Introduction
- Description
- Characteristics
- Example
- Discussion
- Discussion 2
- Discussion 3: Proposed Alternatives
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An argument about the impossibility of economic planning has been going around since the 1920’s called the Calculation Problem. Wikipedia says, "The economic calculation problem is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 ar...
1. From the Wikipedia: "The economic calculation problem is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article "Economic Calculation in the Socialist Commonwealth" and later expanded upon by Friedrich Hayek. In his first artic...
Five Conditions for Top-Down Central Planning to Work
From the Wikipedia: "Since capital goods and labor are highly heterogeneous (i.e. they have different characteristics that pertain to physical productivity), economic calculation requires a common basis for comparison for all forms of capital and labour. As a means of exchange, money enables buyers to compare the costs of goods without having knowledge of their underlying factors; the consumer can simply focus on his personal cost-benefit decision. Therefore, the price system is said to promo...
From the Wikipedia: "Efficiency of markets Some academics and economists argue that the claim a free market is an efficient, or even the most efficient, method of resource allocation is incorrect. Alexander Nove argued that Mises "tends to spoil his case by the implicit assumption that capitalism and optimum resource allocation go together" in Mises' "Economic Calculation in the Socialist Commonwealth". Joan Robinsonargued that many prices in modern capitalism are effectively "administered pr...
Equilibrium
Allin Cottrell, Paul Cockshott and Greg Michaelson argued that the contention that finding a true economic equilibrium is not just hard but impossible for a central planner applies equally well to a market system. As any universal Turing machine can do what any other Turing machine can, a central calculator in principle has no advantage over a system of dispersed calculators, i.e. a market, or vice versa. In some economic models, finding an equilibrium is hard, and finding an Arrow–Debreu equ...
The Soviet Planned Economy system actually worked in terms of allocative efficiency
Seth Ackerman: 1. "when Western economists descended on the former Soviet bloc after 1989 to help direct the transition out of socialism, their central mantra, endlessly repeated, was “Get Prices Right.” But a great deal of contrary evidence had accumulated in the meantime. Around the time of the Soviet collapse, the economist Peter Murrell published an article in the Journal of Economic Perspectives reviewing empirical studies of efficiency in the socialist planned economies. These studies c...
Excerpt from Planning, Re-planning and CoordinationQuotes in this section from Cosma Shalizi's review of the book Red Plenty. Cosma Shalizi is good at the math behind optimization software, among other things. In the excerpts and linked article below, he agrees that an optimally planned economy is impossible, but says that so is an optimally market...
The Socialist Calculation Debate Today: what the left should do
Evgeny Morozov: "If the Socialist Calculation Debate teaches us anything, it’s that the left should not waste time debating the merits of the price mechanism in isolation from its embeddedness in the broader system of capitalist competition, which generates non-price knowledge—reputation and so on—and produces the general social norms and patterns of legibility which allow the price system to do so much with so little. While it’s true that, evaluated on its own terms, the price system appears...
Wikipedia Overview
From the Wikipedia:
See also the threefold typology of alternatives, summarized by Evgeny Morozov, in the entry: Feedback Infrastructure for Non-Market Forms of Social Coordination
2015年1月27日 · The Unconditional Autonomy Allowance which, according to Michel Lepesant’s formula, would become “ sovereign usage rights on common goods” and would contribute to the advent of a voluntary, equitable and socially sustainable economic degrowth. The basic income is another tool that could produce the same result."
2022年1月19日 · Definition. "Sensorica is not a corporation, it is not a coop, it is not an non profit, it is not an LLP. It is an open value network. From a legal perspective, it is a non-registered association. It is an open network of freelancers that coordinate and co-manage their work using some IT tools (the NRP-CAS) and some special governance."
OpenLibrary is an open, editable library catalog, building towards a web page for every book ever published URL = http://www.openlibrary.org Description 1. "The ...
Self-Determined Pricing. Self-determined pricing = system whereby potential buyers can try out a product for free, then pay the amount that they like, including paying nothing. See also: Open Payment and Pay As You Want.
2017年8月8日 · Metacurrency Project. = The meta-currency project is about defining an approach to creating a currency network: MetaCurrency is the name for the infrastructure and protocols necessary for an open source economy, and Free Currencies to flow in an interoperable and standardized way. This requires new technological capacities which need to ...
