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Peter_de_Blanc comments on Rationality Quotes: October 2009 - Less Wrong
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I've run across that argument a couple times, and my reply has been that all economies are planned. Some are planned by a small number of dumb humans with inadequate data, and others are planned by a very large number of dumb humans with more data, and the latter are called market economies.
Also a planned economy can choose to use markets when it predicts they will achieve the desired result cost effectively.