clarke's third fundamental theorem of welfare economics states that any sufficiently advanced socialist economy is indistinguishable from a market economy
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now this is a question of competing rates and my claim about the sign of the first derivative says nothing about magnitudes but i think it should make socialists less hopeful at least (it probably wont)
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another very good point gg socialismhttps://twitter.com/jacobjwilson/status/1356437044738854912 …
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I think Alex Tabarrok wrote a thing about supercomputers advanced enough to solve a modern economy would in turn increase the complexity of the economy beyond their ability to solve it.
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aha! he would nice that is another issue
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This is a great thread, thank you. Attempts to have an organism/system exceed the powers of the Creator seem doomed to failure. This Cisco example. There is a study around the optimal balance of automation/AI and human. I did some designs ~15 years ago.https://www.cio.com/article/2441400/what-went-wrong-at-cisco-in-2001.html …
Thanks. Twitter will use this to make your timeline better. UndoUndo
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the problem is that a command economy converges towards a higher amount of desirability (but is harder to implement) than a market economy market socialism is best of both worlds here
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does not help that most people who have tried to implement a command economy were stupid
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