AI Challenges Hayek's Case Against Central Planning
Financial Times article suggests advanced AI might overturn Hayek's arguments against central planning.
The Financial Times published a piece titled 'Could AI revive the socialist dream?' It argues that artificial intelligence has the potential to both reignite and overturn the century-old debate over central economic planning. The article states a super-AI with access to transaction data would bury Hayek. Posts on X quote the piece and include replies from economists such as Peter Boettke, who notes the fundamental problem with socialism is neither incentives nor computation. Other users share Hayek quotes on economics and socialism.
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AI Challenges Hayek's Case Against Central Planning
Financial Times article suggests advanced AI might overturn Hayek's arguments against central planning.
The Financial Times published a piece titled 'Could AI revive the socialist dream?' It argues that artificial intelligence has the potential to both reignite and overturn the century-old debate over central economic planning. The article states a super-AI with access to transaction data would bury Hayek. Posts on X quote the piece and include replies from economists such as Peter Boettke, who notes the fundamental problem with socialism is neither incentives nor computation. Other users share Hayek quotes on economics and socialism.
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7 postsPB 
Peter Boettke@PeterBoettkeI am fascinated by the inability of people to process the actual argument about market theory and the price system that Mises/Hayek/Kirzner/Lavoie were making and why the fundamental problem with socialism is neither an incentive issue nor a computational complexity argument. Of…
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JO Juan Ortiz-Freuler@juanof9@daniel_dsj2110 Worth reading Morozov's 2019 article on how "big data" (~"AI") could be used to replace the organizing function of price (role of markets in cptlsm) He argues price is a coarse expression people's interests: it collapses too much info. We have +data now…
B( bwpow (e/acc)@realbwpow@allenf32 Maybe AI will get so super smart, that it will be able to predict your every thought with 100% accuracy years in advance. Just then I will admit that central planning could work. But I am skeptical, looking at current trajectory of technological progress.
CD Chandra Duggirala M.D@csentropy@meilaoban @PeterBoettke The socialist calculation debate basically says that no AI can predict the subjective, ordinal utility functions and future states of billions of people's minds with precision. End of. The rest is leftist opium.
R🇺🇸 ResitutorOrbis 🇺🇸🇺🇦🏳️🌈@resitutor@KyleKulinski He defied that lynch mob, defied Trump, certified the 2020 election, and effectively sacrificed his political career in the name of democracy. I hate his ideas, but he's a a real American, not MAGAt.
PD Patrick Demers 𓋹𓍑𓋴@FreyrDevotee@gonglei89 Marxist theory is fun to read. I like this site on Chinese Marxism https://marxism.cass.cn/en/marxist/