I mentioned stuff about walmart and modern technology and somebody sent me a long wall text of how that wouldn't work because entire economies are too complex even for supercomputers.
now on tiktok anytime somebody says something remotely socialist they get spammed with "debunk the ECP"
Like all arguments of NeoClassical economics, the ECP seems sensible in theory, and within models designed for its success, but is not necessarily reflected by history.
Here's an example.The period of greatest efficiency' (insofar as resources were being allocated where needed, and with minimal waste) and growth in productive capacity for the American economy was throughout the Second World War. During which industrial resource production and most wages, prices, and investments were centrally planned from Washington. Full employment was also achieved, even as millions more (mostly women) entered the labor force. Moreover, this was all done using typewriters and slide rules.
One could also argue that the Cuban economy is the most efficient in the world today. While there has been a complete failure of neoclassical/neolibereal orthodoxy to enrich areas in the global South where it was pursued most aggressively