Ham Sarris & AnCaps both love to rebut facts with hypotheticals, often of extreme cases: “but what if you were trapped with 50 people on an alien planet, how would you centrally plan then, hmm?”
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i’m not so naive to think that there are extreme cases, where survival depends on it, information poor, institutions sui generis & original resource endowments equal where ‘markets’ wouldn’t be so bad, but we haven’t lived in that world on Earth, well, basically ever ¯\_(ツ)_/¯
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Replying to @yungneocon
Riffing off your Austrian post: I used to exalt the computational power of markets as an integrator of sincere human expressions. Things got cloudy real fast once I got to a point of technical competency where I could seriously ask, "well, okay, but...try to quantify that."
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Replying to @generativist
Right and if markets were analogs to computation they’d be non computable both for capacity reasons (complexity) & for reasons akin to the Halting problem
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Replying to @yungneocon @generativist
i have to dredge up the source but a host of studies in the 90s said “ok let’s build a market computer” & when they did they found that the axiomatic properties required led to contradictions lol
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Replying to @yungneocon @generativist
meanwhile the work of those like Axtell shows that even the simplest walradian auctions are NP complex
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Yea. This type of lens is exactly what started changing my thinking. Roughly it was: I know this isn't true in other computational contexts; I'm ignoring that here because of my accumulated beliefs...that I can falsify. So, at a minimum, the explanations are wrong."
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