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The Use of Knowledge in Society (1945) [pdf]

3 点作者 georgestrakhov将近 4 年前

1 comment

georgestrakhov将近 4 年前
What I find particularly fascinating is that both major constraints for making "central planning" more effective that Hayek outlines (lack of information and lack of attention) can become irrelevant, thanks to Machine Learning + Blockchain + IoT. With these technologies, the central decision-making algorithm can actually be better positioned to find and implement the optimal local solution than "the man on the spot". Does this mean that in the near future central planning economies are actually going to become more effective and efficient, even in the long-term?