| So you're not arguing against me, you're arguing against someone that's not here that I never cited? From the linked paper (which is very interesting): > Financially, the "economic calculation problem" of von Mises (1920) and Hayek (1935) suggests, among other things, that even if a free market is not perfectly efficient, it will certainly be more efficient than a regulatory or government alternatives. In other words, even if mispricings occasionally occur, most of the time they are smaller than any other alternative system. > Both of those arguments are similar in their domains but neither applies to the results of this paper. Whether markets are efficient or not, and whether P=NP or not, there is no doubt that there will be markets that can allocate resources very close to efficiently and there will be algorithms that can solve problems very close to efficiently. The results of this paper should not be interpreted as support for government intervention into the market; the fact that market efficiency and computational efficiency are linked suggests that government should no more intervene in the market or regulate market participants than it should intervene in computations or regulate computer algorithms. So basically the author does not argue that markets are suboptimal at distributing resources and even goes on to state that a government should not intervene. The paper basically demonstrates that if P!=NP then no system can achieve true efficiency, and argues that markets achieve at least as much efficiency as any other system through approximation. You list the arguments you'd make defending the idea that planning can outperform markets, but you don't actually make the arguments. So I'll ask. Where is the duplication of labor in markets? What is your argument that markets cause intrinsic crashes based on? why do markets necessitate intellectual property? I don't believe they do. People traded for centuries before the concept of intellectual property was invented. What is it you mean by "infinite growth"? There is ambiguity there that is often misunderstood, there is creation of wealth which is things like inventing the wheel, inventing the airplane, things that are real growth (and I'd add, preclude intellectual property) that are deeply connected to free markets, and then there is the concept of infinite growth of an economy in scale, something that is not necessary in a market. The two are often conflated. Also is it possible, even probable, that the problems that plague implementations of planning are symptoms of my argument, and will structurally plague all implementations due to the limitations inherent in central planning systems I've laid out in this thread? |