Thursday, June 2, 2016
Socialist Planning Doesn't Work
Lets deal with this on a purely intellectual level. Why can't an economy be planned by well-meaning federal power? Wouldn't it be possible to assemble the best and brightest minds? Get them who really understand an economy to make things go. Then we can really stimulate the economy form a central plan. Why doesn't that work? It turns out good information is a problem The central planning requires excellent theory and excellent information. That's the problem. The people doing the planning can't have the best information, they aren't involved. The answers they get are always wrong. The policy they implement must fail. The obvious reply is to gather better information! That means get rid of privacy! Still not good enough. By the time the information is gathered, collated and made into a sensible picture, the picture has changed. The target moved. What if the socialists stop the economic 'target' from moving? What if they make everyone wait unto the economic planners are finished with their planning? You can see that is the recipe for a sluggish, even dead, economy. Don't worry about the economic planners satisfaction with this. History shows they will learn not to care how much human misery they make. Central planning will always suffer from poor information. Brilliant theory with garbage information gives garbage answers. What is frustrating to leftist planners is poor theory, even bad theory, if applied at the lowest local level, has superior, up-to-date information and will give superior results. Nothing is more local than the individual. The atomistic practice of free enterprise is consistent with liberty and always results in a people-oriented economy. Okay, forget pure intellect. No matter how well meaning the politicians seem to be, Socialism leads into lingering malaise, poverty and inhuman oppression. If America turns more sharply left, we are in for a long period of malaise. Intrusive government itself is the problem. As long as this government continues to centralize economic power in Washington DC, this economy will wobble toward collapse.