Tag: price theory
Revealed Preferences and Deliberation: A Defense
Emmi Bevensee’s article “Social-Anarchism and Parallel Economic Computation” is an excellent and important introduction to the challenges that complexity poses for economic planning. I think Emmi’s conclusion—that we need to sketch what the limits of planning are and pursue alternative mechanisms beyond this point—is a good one, as is pointing out that problems arise when…
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…
Virus: Lezioni di Mises sulla Scarsità
Di Matin Pedram. Originale: Mises Can Teach Us to Solve the Shortages: A Case for Coronavirus, pubblicato il 30 marzo 2020. Traduzione di Enrico Sanna. Lo stato può impiegare diversi sistemi per controllare il mercato e mantenere l’equilibrio. Il più noto è il controllo dei prezzi(1), accompagnato dalla punizione dei trasgressori ad opera delle forze…
Mises Can Teach Us to Solve the Shortages: A Case for Coronavirus
Governments have various ways to control the markets and attempt to preserve equilibrium. The most familiar one is price-fixing1 and punishing the infringers by reliance on governments’ forces. The rationale behind this is that governments will allocate resources to the best interest of the community and, as they have authority, they can easily mobilize the…
Reputation Markets: Reality, Dangers, and Possibility
Trust is the backbone of not just economies, but also the social fabric more broadly. With it, new worlds are possible, and without it, collapse is inevitable. Trust is built on dynamic and complexly layered reputations. We each have our own methods of building trust, and different communities have their own systems for developing reputation….
Review: The People’s Republic of Walmart
Let me begin by saying that I’m glad this book exists. Phillips and Rozworski are upfront about their book not containing any radical new insights into questions of economic planning, but instead they compile arguments made by others in a highly readable format, something that those on the left who argue for economic planning have…
Anarchy and Democracy
Fighting Fascism
Markets Not Capitalism
The Anatomy of Escape
Organization Theory