>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.
Anyone worked this out in an interesting way? Doug
I would say planning gets less easy every year, as more complexities are uncovered. (see Heal, Theory of Economic Planning). Getting accurate information from enterprises is an important problem, but not the least of them by any means.
If Hayak had ever done any LP or NLP, he would have been reinforced in his convictions, IMO.
mbs