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by sudosysgen
1810 days ago
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The conclusion doesn't follow from the premises. As for food being always produced in market economies, see the Bengal famine. Food wasn't destroyed in the Holodonor, it was simply redistributed. Similar famines happened under capitalism, all it takes is for a crop to come up first or for cash crops combined with the anarchy of production to lead to a crop that is beneath the requirements. So no, similar famines did happen under capitalism, and your thesis is simply incorrect. Markets can have latencies measuring in years or more, see the bullwhip effect. It's incorrect to say that they will be lo always have more processing power and less latency. They would if they were theoretically perfect, but markets are already at their limit and are not far away from the most primitive of planning. |
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Markets emerge spontaneously, like evolution. Evolution functions more optimally than if there were theoretically some god pulling levers. Not perfect, optimally. Markets function better than planned economies for the same reason, that the depth and dimension of the information needed real time does not allow for some entity to make the minutiae of the decisions that need to be made real time. Feedback loops in a complex dynamic multiparty system like a market or evolution sometimes do have much longer latency, but the mean latency of all information flows in both examples is vastly smaller than if every one of those flows had to go through a decision making entity first.