Tag: linear programming
Maximum Viable Economic Planning: The Basis of New Economies
A tweet jokingly showing James C. Scott centrally planning his small chicken farm.  Even in his devastating critiques of high-modernist central planning, James C Scott acknowledges the benefits to planning and the levels at which it can occur with relative safety. The author M Black also challenges us not to fetishize decentralization in such a…
Mathematical Optimization and the Economic Calculation Problem
In 1939, Leonid Kantorovich, a Soviet mathematician, came up with a formulation for optimization problems called linear programming (LP) after being tasked with planning production in the plywood industry during World War 2. A linear program is a constrained optimization problem with a linear objective function that is maximized or minimized subject to linear equality…
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