This reminded me of a thought I had many years ago when learning linear
programming. It seems that when solving a problem to, say, maximize revenue
subject to a number of constraints imposed by limited resources (materials,
labour, etc.), one automatically solves a dual problem which minimizes costs by
imputing to each unit of resource a value exactly commensurate with the
contribution that a given resource makes to the total revenue. This is what is
supposed to happen under the conditions of perfect competition (free
enterprise, invisible hand, etc.)!
It occurred to me then that perhaps only in a centrally planned economy could
one ensure the results of perfect competition or free enterprise!
Bob
"Brad McCormick, Ed.D." wrote:
> I heard a lovely report by one of the pharmaceutical company
> "free marketeers" on NPR:
>
> http://www.users.cloud9.net/~bradmcc/etc.html#fm
>
> He very clearly explained what a "free" market is, in contrast
> with the chaos of a "wild west" market!
>
> Ah, the joys of centralized government planning (aka "free enterprise")!
>
>
--
http://publish.uwo.ca/~mcdaniel/
