Comment by Ferret7446
16 hours 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
16 hours 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
This 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.
Well, yeah, that's how we got cities with a huge amount of land dedicated to economically parasitic parking lots in the first place.
That 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.