Not Latin but gobbly gook. You keep conflating different problems. Information,
Incentives. Hayek was talking about information and calculation. I said managing
information was not a problem, but designing proper incentives was. You keep jumping
around as if they were the same thing. With all your proficiency in analytic
philosophy, or the ability to use a dictionary, it should be clear that they are
different.
Rod
[EMAIL PROTECTED] wrote:
> No, we are not against democracy. But we have to recognize that not all its effects
>are wholly good in every context. In the context of planning, democarcy would make
>the calculation problem worse by amplifying the information distortions it involves.
>Democracy is not part of the solution to the calculation problem. That is not a
>reninciation of democracy. It is a criticism of a proposed solution to a problem with
>planning. Am I speaking Latin or something, why is this simple stuff so hard to
>understand? I thought you guys were economists. --jks
>
--
Rod Hay
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The History of Economic Thought Archive
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