At the Quaker Gathering last week, I was talking economics with a fellow whom I shall call "Fred". So Fred says that Keynes got it right, not Friedman. And then he says, when I allude to the impossibility of simulating markets using computers, and mentioned that the Soviet Union failed at it, he said (get this, now): "The Soviet Union didn't last long enough." by which he meant that he thought that a market really wasn't necessary, and that the Soviet Union just needed a little more computing power to be able to simulate markets.
Scary, truly scary. As if murdering millions of their own citizens didn't matter. Some pacifist, that "Fred".
posted at: 06:59 | path: /economics | permanent link to this entry