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

[John Thornton]

Chris Doss wrote:
> Building microwaves is not like handling libraries. To build the microwaves you have to coordinate the work of vastly different mining, design, electronics, and metallurgical industries, each employing huge numbers of people. Then you have quality control, so the microwaves work and don't set fire to things (centrally planned economies have notoriously sucked ass at this). Then you have to distribute the microwaves to various optimal points where people want microwaves, in sufficient amounts and at appropriate intervals. Then you need a feedback mechanism so you know people are happy with the microwaves.
>
> In libraries, on the other hand, the books are already produced. All you have to do is order them.

The fact that the few central planning economies had poor quality 
control isn't a reason to assume it is a feature of such economies.
However the other aspect you mention, sufficient quantities at proper 
intervals and at an effective price seem very difficult to coordinate 
this way.
Isn't this what markets do best?
To market widgets seems like a fine idea to me.
To market everything seems like a horrible idea.

John Thornton