Mind Matters Natural and Artificial Intelligence News and Analysis

TagCentral Planning

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Communist Party Monument, Pyongyang, North-Korea

Computer Science Explains Why Communism Can’t Work

Successful communism is not only morally and practically flawed, it is mathematically impossible

Communism has been the target of many criticisms. The strongest deal with the mismatch between central planning and individuals’ desires for their lives and with the horrific human rights record of communist nations. Some scholars place the toll in human life due to communism at above 100 million in the 20th century. Those are criticisms of the practicality and ethics of communism. But is it also intrinsically flawed at a fundamental mathematical level? It turns out that the answer is yes. The basic idea behind central planning is this: If the central government makes most decisions that, in a freer society, individuals or small communities would make for themselves, more efficiency will follow—and, as a result, more prosperity. It doesn’t…

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Market with hundreds of stalls from above

Will the Free Market Help or Hurt Us in an AI-Empowered World?

We may need new institutions, such as insurance against job obsolescence
If humans are free to experiment with new institutions, I believe we will find an excellent solution. However, there is a great danger that those who benefit from the status quo will use their influence to prevent the adoption of new institutions. Read More ›