[lbo-talk] IT innovation and "the Markets"

[John Thornton]

Miles Jackson wrote:
> John Thornton wrote:
>> Miles Jackson wrote:
>>> Chris Doss wrote:
>>>> Central planning is very good at big, well-defined projects. It's not
>>>> very good at distributing the end product.
>>>
>>> Unless that end product is public libraries, public roads, national 
>>> parks, the internet, basic scientific research, police service, fire 
>>> service, health care, pension funds, public utilities, etc, etc, etc.
>>>
>>> Miles
>>
>>
>> While I agree with your list do you imagine central planning would be 
>> as effective at filling demand for microwaves, TeeVee, pants, shoes 
>> and similar goods?
>>
>> John Thornton
> Why not?  The efficient distribution of media from a lending library 
> requires significant planning, tracking, budgeting, staffing, etc.  
> Actually, the more I think about it, in practical terms, it's way 
> easier to produce and distribute microwave ovens than it is to produce 
> any of the public goods on my list.
>
> Miles 

I'm curious how central planning can gauge demand and price.
Seems to me markets do that fairly well.
I'm not an economist however.

John Thornton