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 th
Perfect competition does not exist, but some markets are more competitive
than others,a nd some are quite competitive. Moreover, although large
corporations often respond slowly--too slowly--they respond faster than
five-years plans; the issue is comparative. Computers will not solve for a
num
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 c
