[lbo-talk] [marxism-thaxis] The Financial Times on big data in China

Jean-Christophe Helary brandelune at gmail.com
Tue Sep 5 16:21:54 PDT 2017

> On Sep 6, 2017, at 3:35, Jim Farmelant <farmelantj at juno.com> wrote:

> But while this hybrid economy may be neat in theory, two big doubts hang over its viability in the real world.
> The freer flow of data could counter many of the ills that disfigured planned economies: excessive concentration of power, rent-seeking corruption, and irrational decision-making

Don't we have that too in the "West" ?

> The first is that accumulating data and using them in sensible ways are two very different propositions, as shown by any number of failed governmental IT projects around the world.
> The second is how innovative such an economy could ever hope to be. It is hard for consumers to signal a data demand for a product that does not yet exist. In some respects, it would be like trying to drive into the future by staring into the rear-view mirror.

??? Funny how they say that China is an hybrid economy earlier and now it is suddenly all planned by Big Data. The conclusion doesn't make sense.


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