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"

  • adultswim_antifa [he/him]
    ·
    4 years ago

    If efficient market hypothesis is true, a central planning system could do the same thing as the market using the same information and it's just a matter of getting the right information to the right places. If it's not true, markets are not the reliable tool they are believed to be because things are mispriced and the price signals are producing the wrong behavior sometimes and maybe it's impossible to know how badly. I tend to believe the latter.