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The Use of Knowledge in Society (1945)

27 点作者 dedalus超过 5 年前

2 条评论

1996超过 5 年前
TLDR: statistics only offer summaries, hiding things that may be very important. But these things can&#x27;t be seen: you hit a complexity problem if you try to consider absolutely everything.<p>It&#x27;s like when the curse of dimentionality meet big O notation, and you throw your hands in the air and give up - or satisfy yourself with simplest solutions, while knowing their limitations.<p>Note how this applies to all abstractions. They are generally helpful, but as the saying goes, the maps are not the territories.<p>Except in economics, economist try their hardest to ignore these limitations, even if they go against basic logic. It&#x27;s hard for a man to understand something when his continuous employment is based on not understanding.<p>But a minimum wage will increase unemployment. There is no workaround. A price ceiling will cause shortages. There is no workaround. People get elected promising there are workaround, and people get paid by promising to deliver workaround, but it&#x27;s just smoke and mirrors.<p>I find it funny when I see on TV they are now going to allow some compensation for organ donors to try to fix the organ shortage problem. Using insights from this paper from 1945 and basic econ, you can already say that it&#x27;s an increase in the price ceiling, so it will improve shortages.<p>But there will always be shortages unless a market can exist. People who fight against basic logic will just have a little less blood on their hands. But if they can sleep at night and help politicians deliver fuzzy feeling to their electorate, I guess that&#x27;s good enough to deserve their wage.<p>After all, people just want to be reassured that the dirty hands of capitalism won&#x27;t be touching the beautiful world of love and kindness that medicine is, especially regarding organ donation (cue emotional music with people cuddling)
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Wolfenstein98k超过 5 年前
One of the greatest articles of all time. Deeper every time you read it. Planning will always fail at scale, this helps explain why and mitigate