Designing an Economy Like an Ecologist

How complexity thinking could reboot our approach to public policy

 
Oversimplification #1: The economy can be centrally planned

One has already collapsed; the economic ideas of Marx and especially Lenin, who sought an egalitarian society through the centralized control of the economy. In their effort to eliminate the capitalist class, they made a fatal error in their descriptive model of how economies work.

In reality, most of the relevant knowledge needed to coordinate economic activity is distributed throughout the system. How many nails to produce each month, for example, depends on dispersed information that planners cannot access. The inefficiencies of central planning make it unsustainable.

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Πηγή: rhizomerd.substack.com