A not Unminor problem for the Left

DANIEL.DAVIES at flemings.com DANIEL.DAVIES at flemings.com
Fri Apr 14 05:25:48 PDT 2000

Justin wrote:

>It is for reasons like this [they were about efficiency --dd] that I think
Hayek will be a great hero to a
>future socialist society.


I doubt it. Hayek's planning problem is getting easier, not more difficult, every year, and the wasted effort in transactions costs is getting greater. Worth remembering that Hayek's critique of planning is an empirical claim about the difficulty of planning, not some fantastic logical truth (the Lausanne School's proof of optimal allocation through market transactions is another matter). If Hayek had lived in the days in which linear and even nonlinear) programming was something that could be done on a desktop, he might have wondered.





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