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by cynicalkane 4103 days ago
The same group of people that would support "democratically planned economies with analytical input" are the people who would blame the same sorts of analysis for the Great Recession.

I wonder if they think that if only the bankers were democratically controlled, their risk modeling wouldn't have gone berserk. The experiences of Fannie Mae and Freddie Mac should serve as a counter data point to this assumption.

This is a general problem with Marxism. Embedded very deeply in Marx is the idea that if only the correct social class controlled everything, things would be better, and that violence and injustice--which Marx explicitly advocated--are acceptable ways to achieve this. The idea that social class and morality are economic forces is a good one, but Marx wasn't the first guy who thought of this--he actually very deeply studied earlier economists and used their ideas--and we would do ourselves a service by not paying attention to someone who repackaged these ideas into a loathsome story about the inevitability and rightness of the "dictatorship of the proletariat". (I'll add further that mainstream economics has moved on from many others of these ideas because they turned out to be dead wrong--like the labor theory of value.)

Edit: Intolerance of informed criticism is not a convincing defense of your ideas.