Thursday, April 13, 2006

Nice, but couldn't he have given Ludwig his props?

A very readable article here, but why did he not give Ludwig von Mises the credit von Mises is due? It was, after all, von Mises who proved beyond refutation that when central planning abolishes free market prices, it destroys the only possible source of certain critical information without which it is impossible to plan, and thus that the Soviet economic model was doomed. Luttwak refers to von Mises's analysis:

One explanation, originally offered as a theoretical proposition even before Soviet central planning had really started, was that central planners who might choose more or less rationally among steel and concrete and other such few commodities, could not possibly guess accurately which polymer of hundreds should be produced, or rather which polymers in which proportion, and also everything else, from computers to green hats and brown shoes (I really did once see in Leningrad a shop largely stocked with unwanted green shoes). Only the ups and downs of market prices can do that, by sending instantaneous and unchallengeable signals to both producers and consumers.
Would it really have been so hard to say, "...originally offered as a theoretical proposition by Ludwig von Mises..."?

Also, the more I hear about the CIA, the more like a complete fantasy Tom Clancy's novels appear...the CIA of Jack Ryan never has seemed to me to sound very much like the CIA that didn't know which building in Sarajevo was the Chinese freakin' Embassy.

UPDATE: Oops, sorry, Solomon, the link's fixed now.

1 Comments:

At 11:18 PM, Blogger Solomon Grundy said...

Your link points back to your own site... (which is to say, I was curious to read what you were talking about)

 

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