Supercomputers, AI, Central Planning and Coase
Posted in Central Planning, Extended Order, Knowledge, You Can't Have it Both Ways on Dec 5th, 2017
I frame the analytic discussions about markets versus socialism as a knowledge problem. The key to the success in any “economic system” is to figure out a way to have valuable knowledge and information produced, transmitted and acted upon – even by actors who do not know that they are part of the solution. The standard discussion […]
