Crosmando: a planned economy would actually be possible in an efficient sense, if the entire economy's needs were organized by a huge computer system, or will a market economy always be superior.

Crosmando: So I have been reading a history book recently about the USSR, and one thing I found interesting is that during the so-called "5-Year Plans" there was a staggering amount of human error involved, as well as corruption, everything that was produced had to be written down on paper with pencil or typewriter, shortages and surpluses were caused if a factory manager put down fraudulent production figures (because too many resources were being put into one thing, or too little).

Anyway, without really starting a huge political debate, does anyone think that in the modern world, with computers and the like, that a planned economy would actually be possible in an efficient sense, if the entire economy's needs were organized by a huge computer system, or will a market economy always be superior.

Spinorial: Quite possible, and you wouldn't even need too huge a computer. However, you'll need a concerted academic research into building the models and software that runs them, extensive testing and simulations, and of course a willingness for a pilot program somewhere. Which requires political will, which sinks the idea before it ever begins. Because you certainly won't see private funding help out :P

But yes, it's quite possible and would be, once reasonably implemented, superior to a free market, which is inherently wasteful and relies on an overabundance of resources.

Crosmando: Well I guess you could apply it to that, but I meant more just individual countries.

F4LL0UT: Well, the other question is whether you presume that a country governed by such a system could be economically fully self-sufficient. The reason I asked whether you mean a single system covering the entire global economy is because I think that these plans would be highly unreliable if they were dependent on other systems acting in a specific manner.

F4LL0UT: Well, the other question is whether you presume that a country governed by such a system could be economically fully self-sufficient. The reason I asked whether you mean a single system covering the entire global economy is because I think that these plans would be highly unreliable if they were dependent on other systems acting in a specific manner.

monkeydelarge: Then the computer controlled country will just end up like North Korea.

Crosmando: Uh yeah I get you, and I guess because the world economy these days is so interlinked it would need to be done on a global scale, because if on a national level they'd still be external factors like fluctuating prices of imports and exports which would constantly screw with the system.

I don't think it would be possible for any country to be completely self-sufficient these days.

F4LL0UT: Distrusted and hated but stable and happy, you mean?

Momo1991: The only problem is that "needs and wants" vary and are driven by both cost and advertising - and disruptors like new products. Then there is the Big Brother aspect....