Justin You will have to explain what you mean in more detail. What system provides incentives to respond to accurate information fast. In my way of seeing things, large corporations respond slowly and in an imperfect way to market signals. Those with more reserve resources can delay the respond for a longer period. The world of perfect competition does not and can not exist. But given the speed and capacity of modern computers there is no reason that a properly designed plan could not provide information on consumer demand. I don't know how to design the system of incentives. The market has few positive signals. Consumers can only react to decisions made by others. A socialist system could overcome that drawback. Rod [EMAIL PROTECTED] wrote: > In a message dated 7/13/00 7:36:48 PM Eastern Daylight Time, > [EMAIL PROTECTED] writes: > > << Actually I think the Hayek-Mises critique of planning is quite easy to > answer. The problem is not information. The problem is designing > institutions which provide the incentives for technological > improvements. >> > > That is one problem. Creating incentives to get and respond to accurate > information fast is another. If you think you have an answer, tell me. I have > been waiting, literally, for 20 years. I am not being sarcastic. I really > want an answer. --jks -- Rod Hay [EMAIL PROTECTED] The History of Economic Thought Archive http://socserv2.mcmaster.ca/~econ/ugcm/3ll3/index.html Batoche Books http://Batoche.co-ltd.net/ 52 Eby Street South Kitchener, Ontario N2G 3L1 Canada
