Trevor_Blake comments on central planning is intractable (polynomial, but n is large) - Less Wrong

9 Post author: Jonathan_Graehl 31 May 2012 06:41PM

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Comment author: [deleted] 01 June 2012 03:56:54AM *  1 point [-]

The economic calculation problem was noted as early as the 1850s. In contrast, the "Communist Manifesto" was published in 1848. The economic calculation problem does seem to point out a hole in the bucket of central planning. A leaky bucket can still carry some water, of course. A review of the history of the theory and an explanation of the theory can be found in "Posing the Problem: The Impossibility of Economic Calculation under Socialism" by David Ramsay Steele [http://www.la-articles.org.uk/ec.htm]